{
  "id": "demand-deficient-unemployment",
  "name": "Demand-deficient (cyclical) unemployment",
  "unit": "macro",
  "unitName": "Unit 3 · Macroeconomics",
  "topic": "Unemployment",
  "hl": false,
  "description": "A fall in AD reduces real GDP below potential; firms need fewer workers and, with sticky wages, the demand for labour falls below the supply of labour.",
  "keywords": [
    "demand-deficient unemployment",
    "cyclical unemployment",
    "Keynesian unemployment",
    "recession",
    "sticky wages",
    "fall in AD"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/demand-deficient-unemployment",
  "previewUrl": "https://graphs.lectere.com/thumbs/demand-deficient-unemployment.svg",
  "editorUrl": "https://graphs.lectere.com/graph/demand-deficient-unemployment/",
  "params": [
    {
      "key": "view",
      "label": "Show",
      "default": "both",
      "type": "enum",
      "options": [
        {
          "value": "adas",
          "label": "AD/AS diagram"
        },
        {
          "value": "labour",
          "label": "Labour market (sticky wages)"
        },
        {
          "value": "both",
          "label": "Both side by side"
        }
      ]
    },
    {
      "key": "shift",
      "label": "Fall in demand",
      "default": 1.8,
      "group": "Shape",
      "type": "number",
      "min": 0.8,
      "max": 2.6,
      "step": 0.1
    }
  ],
  "defaults": {
    "view": "both",
    "shift": 1.8
  },
  "panels": [
    {
      "id": "adas",
      "title": "Economy (AD/AS)",
      "xLabel": "Real GDP",
      "yLabel": "Average price level",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "adas:x",
        "y": "adas:y"
      }
    },
    {
      "id": "labour",
      "title": "Labour market",
      "xLabel": "Quantity of labour",
      "yLabel": "Real wage rate",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "labour:x",
        "y": "labour:y"
      }
    }
  ],
  "labels": [
    {
      "key": "adas:title",
      "default": "Economy (AD/AS)",
      "hint": "Panel title",
      "panel": "adas"
    },
    {
      "key": "adas:y",
      "default": "Average price level",
      "hint": "Vertical axis",
      "panel": "adas"
    },
    {
      "key": "adas:x",
      "default": "Real GDP",
      "hint": "Horizontal axis",
      "panel": "adas"
    },
    {
      "key": "adas.lras",
      "default": "LRAS",
      "hint": "Curve",
      "panel": "adas"
    },
    {
      "key": "adas.ad1",
      "default": "AD_1",
      "hint": "Curve",
      "panel": "adas"
    },
    {
      "key": "adas.ad2",
      "default": "AD_2",
      "hint": "Curve",
      "panel": "adas"
    },
    {
      "key": "adas.sras",
      "default": "SRAS",
      "hint": "Curve",
      "panel": "adas"
    },
    {
      "key": "adas.e1:y",
      "default": "PL_1",
      "hint": "Vertical-axis value",
      "panel": "adas"
    },
    {
      "key": "adas.e1:x",
      "default": "Y_p",
      "hint": "Horizontal-axis value",
      "panel": "adas"
    },
    {
      "key": "adas.e2:y",
      "default": "PL_2",
      "hint": "Vertical-axis value",
      "panel": "adas"
    },
    {
      "key": "adas.e2:x",
      "default": "Y_2",
      "hint": "Horizontal-axis value",
      "panel": "adas"
    },
    {
      "key": "labour:title",
      "default": "Labour market",
      "hint": "Panel title",
      "panel": "labour"
    },
    {
      "key": "labour:y",
      "default": "Real wage rate",
      "hint": "Vertical axis",
      "panel": "labour"
    },
    {
      "key": "labour:x",
      "default": "Quantity of labour",
      "hint": "Horizontal axis",
      "panel": "labour"
    },
    {
      "key": "labour.asl",
      "default": "AS_L",
      "hint": "Curve",
      "panel": "labour"
    },
    {
      "key": "labour.adl1",
      "default": "AD_{L1}",
      "hint": "Curve",
      "panel": "labour"
    },
    {
      "key": "labour.adl2",
      "default": "AD_{L2}",
      "hint": "Curve",
      "panel": "labour"
    },
    {
      "key": "labour.e1:y",
      "default": "W_1",
      "hint": "Vertical-axis value",
      "panel": "labour"
    },
    {
      "key": "labour.e1:x",
      "default": "Q_1",
      "hint": "Horizontal-axis value",
      "panel": "labour"
    },
    {
      "key": "labour.q2:x",
      "default": "Q_2",
      "hint": "Horizontal-axis value",
      "panel": "labour"
    },
    {
      "key": "labour.u",
      "default": "unemployment",
      "hint": "Arrow / line",
      "panel": "labour"
    }
  ],
  "elements": [
    {
      "key": "adas.lras",
      "kind": "curve",
      "label": "LRAS"
    },
    {
      "key": "adas.ad1",
      "kind": "curve",
      "label": "AD_1"
    },
    {
      "key": "adas.ad2",
      "kind": "curve",
      "label": "AD_2"
    },
    {
      "key": "adas.sras",
      "kind": "curve",
      "label": "SRAS"
    },
    {
      "key": "adas.shift",
      "kind": "line"
    },
    {
      "key": "adas.e1",
      "kind": "point"
    },
    {
      "key": "adas.e2",
      "kind": "point"
    },
    {
      "key": "labour.asl",
      "kind": "curve",
      "label": "AS_L"
    },
    {
      "key": "labour.adl1",
      "kind": "curve",
      "label": "AD_{L1}"
    },
    {
      "key": "labour.adl2",
      "kind": "curve",
      "label": "AD_{L2}"
    },
    {
      "key": "labour.shift",
      "kind": "line"
    },
    {
      "key": "labour.e1",
      "kind": "point"
    },
    {
      "key": "labour.q2",
      "kind": "point"
    },
    {
      "key": "labour.u",
      "kind": "line",
      "label": "unemployment"
    }
  ],
  "stats": null,
  "example": {
    "template": "demand-deficient-unemployment",
    "params": {
      "view": "both",
      "shift": 1.8
    }
  }
}