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Diversity In Public Sector Hr Policy. It Is Very Well Known

Diversity in Public Sector HR Policy It is very well known that the only constant in the universe is change, and there is no better place to validate that claim than in today’s workplace. Diversity is the order of the day when it comes to recruitment and selection by public and privet recruiters, headhunters, and human resource (HR) managers. While many guidelines have been put into place to ensure diversity in hiring practices, such as Title VII of the Civil Rights Act of 1964 which makes it illegal for employers to discriminate against job applicants on the basis of sex, race, color, national origin, and religion, there are still areas of discrimination that are not addressed in the act which can put hiring managers at risk. It is†¦show more content†¦Diversity must be woven into the very fiber of the organization’s culture in such a way that there is no mistake as to leadership’s attitude toward hiring the most talented candidates from all walks of life. Brescoll (2011) stated when an organization truly has diversity as a core part of its culture, diversity then becomes the lens that all aspects of the organization are view through. It is at this point when an organization can say diversity is part of its core culture. At this point HR managers need to understand how and where to attract and recruit those individuals that represent the core competency of diversity. Recruiting Diversity It may be well and good to preach a culture of diversity; however, attracting, recruiting, and selecting candidates that mirror the organizations commitment is another thing entirely. Ilgaz (2015) reported one important step toward attracting and recruiting a more diverse workforce is to identify new diverse talent pools rather than being a slave to tools such as online search engines and local universities and colleges. New talent pools must be found and utilized if an organization is to locate the most qualified candidates. Monster (2014) advised HR managers take actions such as getting involved in organizations, utilizing employee resource groups, becomingShow MoreRelatedEssay on Human Resource Management in Business3172 Words   |  13 Pagesof Contents IntroductionÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..4 BackgroundÂ…Â….Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….Â…4 Strategic Human Resource ManagementÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….6 Multicultural Knowledge TransferÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..8 HRM in the Public SectorÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…9 ConclusionÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….11 ReferencesÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..13 Human Resource Management in Business The fast paced area of HRM as seen many new developments in the science andRead MoreEssay on Human Resource Management in Business3064 Words   |  13 Pagesof Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Background†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦4 Strategic Human Resource Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 Multicultural Knowledge Transfer†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 HRM in the Public Sector†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.11 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..13 Human Resource Management in Business The fast paced area of HRM as seen many new developments in the scienceRead MoreThe Ideal Company to Work for2353 Words   |  10 PagesTable of Contents Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Green Grown†¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...2 Business Strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 HR Strategies and Policies†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Corporate Strategy..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Trends†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 My Ideal Workplace†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Works Cited†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..10 Introduction Wouldn’t it be nice to be able to design your idealRead MoreImpact of Job Analysis on Job Performance11732 Words   |  47 PagesJournal of Diversity Management – Second Quarter 2010 Volume 5, Number 2 Impact Of Job Analysis On Job Performance: Analysis Of A Hypothesized Model Rehman Safdar, Pakistan Electronic Media Regulatory Authority (PEMRA), Pakistan Ajmal Waheed, Quaid-e-Azam University, Pakistan Khattak Hamid Rafiq, National University of Modern Languages, Pakistan ABSTRACT Researchers have developed a relationship between HRM practices and organizational performance, but the relationship between HRM practiceRead MoreRecruitment and selection process1714 Words   |  7 Pages Recruitment and selection process Recruitment is the process of having the right person, in the right place, at the right time. It is crucial to organisational performance. Recruitment is a critical activity, not just for the HR team but also for line managers who are increasingly involved in the selection process. All those involved in recruitment activities should be equipped with the appropriate knowledge and skills. Before creating business plans or making decisions, it is important to scanRead MoreRole of Hr in Organization10279 Words   |  42 Pagesand Change: The Role of the HR Function in the Modern Public Sector Continuity and Change: The Role of the HR Function in the Modern Public Sector ABSTRACT As the public sector has modernised and sought to become more efficient and cost-effective, the effective and strategic management of people has received increasing prominence and there have been calls for the HR function to play a more strategic role. However, not much is known about whether the role of the HR function has changed substantivelyRead MorePerkins Engines and Antony James1560 Words   |  7 Pagescustomers, make a profit and expand. PLC is a company with shares, PLC stands for Public Liability Company and at the age of 18 a person can buy a share and be a share holder. Advantages of having a PLC company is that it can raise a lot of money by selling on the stock market and they have a limited liability. CAT is a arcadia and umbrella company, being an umbrella company means that the they are the owners of very small businesses e.g Rapisarda and X part are call sister companies (A company whichRead MoreExploring Structural Change in Uk Economy and Labour Market Inequality in London6203 Words   |  25 PagesInequality Within London: Implications for the HR Function and HR Practitioners Word Count: 4,455 words (main body of assignment) Contents How the structure of the UK economy has evolved and changed since the 1970’s, the impact on organisations and HR functions 3 Overview of key factors responsible for structural change 3 Impact on the external labour market, the employment relationship, the psychological contract and the policies and practices of HR departments 4 Challenges the 2008 recessionRead MoreAnalyse the impact of the key external environmental influences on HRM, using examples to illustrate.3926 Words   |  16 PagesThe external environmental factors described in the following essay have a direct or indirect influence on HRM. To be effective, HR managers must monitor the environment on an ongoing basis; assess the impact of any changes; and be proactive in implementing policies and programs to deal with such challenges. Economic Environment The economic environment has a major impact on business in general and the management of human resources in particular. Economic conditions affect supply and demand forRead MoreHuman Resources Management Essay6194 Words   |  25 PagesResource Management in Organizations† 1. Discuss several areas in which HR can affect organizational culture positively or negatively. 2. Give some examples of ethical issues that you have experienced in jobs, and explain how HR did or did not help resolve them. 3. Why is it important for HR management to transform from being primarily administrative and operational to becoming a more strategic contributor? 4. Assume you are an HR director with a staff of seven people. A departmental objective is

The Scarlet Ibis Free Essays

Doodle and the scarlet ibis are similar in many ways. First, Doodle could not walk until his brother taught him how to walk. However, it was not just the help from his brother. We will write a custom essay sample on The Scarlet Ibis or any similar topic only for you Order Now It was Doodle’s will that made him able to walk by himself. Doodle was willing to try again and again until he was able to walk. Doodle wanted to make himself and his family happy. The scarlet ibis, in order to fly, must try again and again until it can fly. Because they are willing to do anything to succeed it shows that Doodle and the ibis are similar. The ibis and doodle are very similar to each other which could amaze anyone. The scarlet ibis and Doodle are handicapped, but still struggle to have a normal life. First, the scarlet ibis is small and has fragile legs just like Doodle. He was handicapped, small, and fragile. Doodle is just like the Scarlet Ibis who struggles to fly, just like as Doodle struggles to live a normal like everyone else. Doodle was out of place in his world too because he was different from others. Also, the Scarlet Ibis is out of place in their yard. The bird is not commonly seen around Doodle’s neighborhood, as if the bird was lost. The Scarlet Ibis was also injured and small, just like Doodle. Doodle and the Scarlet Ibis both exhausted themselves, eventually leading them to death. Doodle and the Ibis both have fragile legs. The bird exhausted itself to death to try to fly to where he originally may have belonged. Doodle exhausted himself to death by staying in the storm too long. Doodle and ibis lived in the world where they cannot survive. In the end Doodle and ibis died because they pushed themselves to the limit. How to cite The Scarlet Ibis, Essay examples The Scarlet Ibis Free Essays

Personal Income Inequality and Aggregate Demand

Questions: 1. Explain why real GDP might be an unreliable indicator of the standard of living. 2. Why does unemployment arise and what makes some unemployment unavoidable? 3. Consider the following statement: When the average level of prices of goods and services rises, inflation rises? Do you agree or disagree? Explain. 4. What is the aggregate demand (AD) curve and why does it slope downwards? Explain. 5. What is the long run aggregate supply (LRAS) curve and why is it vertical? Why does the short run aggregate supply curve slope upwards? Answers: 1. Gross Domestic Product is defined as the monetary value of all completed commodities as well as services that are produced within the border of a country. GDP is considered as a wide dimension of the overall economic activity of a nation. It is calculated by making the use of the following formula: GDP = C + I + G + NX Real GDP on the other hand, is not considered as a reliable indicator of the standard of living. This is mostly because, it does not include production activities of a homemaker as well as other household production activities. It also deserts the background of the economy as well as the health and life expectancy of individuals. The destruction that are caused by ecology are also not considered as a part of real GDP. Real GDP, for example, takes into account the overall market value of all goods as well as services that are manufactured in Australia after the deduction of cost of goods and services (Egerer, Langmantel and Zimmer 2016). 2. Unemployment is described as a circumstance where an individual of working age is not able to find a job however; would desire to be full time employment. The persistent measurement of unemployment is the rate of unemployment. In Australia, for example, in the year 2016 the seasonally accustomed rate of unemployment increased to 5.7 percent. As per the reports, the percentage was to some extent above the consensus of the market. Unemployment mostly takes place due to regulation of the government as well as augmented competition between businesses. Due to immobility in occupation, the discrepancy of skills in the labor market leads to unemployment that in turn leads to difficulties in learning innovative skills (Weiss 2014). The diagram shows that real wage unemployment takes place in a competitive market where Q2 illustrates the supply of labor that is more than W2. The diagram also shows that the demand for labor Q is less as compared to the supply for labor. The people to enter the labor force in order to search for a job at a certain point mostly makes unemployment unavoidable. On the other hand, it becomes unavoidable as some people does not search for job any longer once they are not able to find any. Similarly, this leads to depression among individuals that also makes unemployment unavoidable (Gregg et al. 2014). 3. The measurement that examines the weighted average prices of a basket of commodities and services of individuals are termed as consumer price index. The CPI is considered as a statistical estimate that is constructed by making the use of a sample representative objects whose prices are combined periodically. The level of price is the dimension of current prices of goods that are manufactured in an economy within a precise period of time. However, inflation is described as the rate at which the wide-ranging level of price for goods and services is augmented. On the other hand, the purchasing power of currency reduces (Einav and Levin 2014). The increase in the average level of prices of commodities and services leads to increase in inflation. This takes place due to the fact that the cost of living depends on the average level of prices for both commodities as well as services. In this case, the major inflationary trigger is indicated by rise in economic movement. As a result, it can be concluded that inflation mostly takes place due to augment in average prices for goods and services. The economic dimension of the sum of all accomplished commodities and services that are manufactured in the economy are termed as aggregate demand. It is mostly expressed as the overall amount of money that is exchanged for those commodities and services. The relationship between two factors that includes the quantity of demanded output and aggregate level of price is illustrated with the help of the aggregate demand curve. The curve mostly illustrates the total quantity of all goods that is demanded by the economy at varied level of prices. The consumer price index (CPI) mostly measures the aggregate price level (Carvalho and Rezai 2016). 4. The aggregate demand curve slopes downwards due to Pigou's wealth effect. It describes the incentive of output and employment that are caused by rising consumption because of increase in real balances of wealth. The second reason that leads to downward sloping aggregate demand curve is Keynes's interest-rate effect. According to Keynes, the rate of interest affect expenditures more than it affects savings. With the decrease in price, a specified amount of money will rise in value. The third and the final reason is the exchange-rate effect of Mundell-Fleming. It demonstrates the short-run relationship between the nominal exchange rate, rate of interest and output of an economy (Benhabib, Wang and Wen 2015). The aggregate demand curve is demonstrated under the assumption that the government holds the supply of money is constant. The diagram shows that the level of price of all final goods and services are indicated by the vertical axis. 5. Aggregate supply is defined as the total supply of commodities and services that are companies are willing to sell at a given level of price. In the long run, capital and technology affects the aggregate supply curve. The long run aggregate supply curve is stagnant as it shifts the slowest of the three varieties of the aggregate supply curve. The vertical aggregate supply curve demonstrates the theory of the economists that states that aggregate supply curve changes due to short-term change in total output of an economy. An increase in population, for example leads to shift in the long run aggregate supply curve (Erosa, Fusterz and Kambourov 2016). On the other hand, the rise in price leads to increase in short-run aggregate supply curve. The fall in wages as well as increase in physical capital leads to short-run aggregate supply curve. References Benhabib, J., Wang, P. and Wen, Y., 2015. Sentiments and aggregate demand fluctuations.Econometrica,83(2), pp.549-585. Carvalho, L. and Rezai, A., 2016. Personal income inequality and aggregate demand.Cambridge Journal of Economics,40(2), pp.491-505. Egerer, M., Langmantel, E. and Zimmer, M., 2016. Gross Domestic Product. InRegional Assessment of Global Change Impacts(pp. 147-152). Springer International Publishing. Einav, L. and Levin, J., 2014. Economics in the age of big data.Science,346(6210), p.1243089. Erosa, A., Fusterz, L. and Kambourov, G., 2016. Towards a micro-founded theory of aggregate labor supply.The Review of Economic Studies, p.rdw010. Gregg, P., Machin, S. and Fernndez?Salgado, M., 2014. Real wages and unemployment in the big squeeze.The Economic Journal,124(576), pp.408-432. Weiss, A., 2014.Efficiency wages: Models of unemployment, layoffs, and wage dispersion. Princeton University Press.