Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Econ Ch 11 2015
Study Stack Economics Napoleon Chapter 11
| Term | Definition |
|---|---|
| unemployment rate | The percentage of people in the civilian workforce who are unemployed. |
| marginally attached worker | A worker who once held a productive job but is now unemployed and is no longer looking for work. |
| discouraged worker | A unemployed worker who is not seeking employment because of job related reasons. |
| underemployed | Working at a job for which one is overqualified, or working in a part time job when full-time employment is desired. |
| frictional unemployment | Temporary unemployment caused by factors that are not related to business cycle. |
| structural unemployment | Unemployment that is caused by changes in technology, government policies, long-term consumer demand for certain products, population trends, and other factor unrelated to the business cycle. |
| seasonal unemployment | Unemployment that results from season variations in the economy. |
| cyclical unemployment | Unemployment that is caused by downturns in the business cycle. |
| aggregate supply | The total supply of all goods and services of available in an economy. |
| aggregate demand | The total demand of goods, investments, and services that consumers want to buy during a specific period of time. |
| inflation | An increase in overall prices that results from rising wages, an increased money supply, and increased spending relative to the supply of products. |
| deflation | A general decrease in the prices of all goods and services. |
| demand-pull inflation | A general rise in prices that occurs when overall demand for goods increases faster than the output of goods. |
| cost-push inflation | A general rise in prices that results from a rise in the costs of production. |
| supply shock | As economic disturbance caused by events outside a nation's economy; increases costs of production for one or more industries and often leads to inflation. |
| wage-price spiral | A cycle that develops when increased wages raise production costs, which then lead to higher prices for goods or services, encouraging workers to demand still higher pay. |
| consumer price index | A measure of changes in the prices of market basket items, specific goods and services commonly purchases by a typical family. |
| inflation rate | The rate at which the overall price level of goods and services in an economy is changing. |
| hyperinflation | An increase in prices that is so rapid and severe that it disrupts normal economic conditions. |
| market basket | A representative sample of about 400 goods and services that the U.S. Department of Labor has identified as common purchases of a typical consumer. |
| producer price index | A measure of the changes in prices of about 3,200 items bought by producers. |
| poverty threshold | The level of income that the government considers necessary to sustain a family at a minimum standard of living. |
| poverty rate | The percentage of individuals or families in the total population who are living below the poverty threshold and thus considered by the government to be poor. |
| Lorenz Curve | A graph showing how equally income is distribute in an economy. |
| Gini Index | A mathematical measure of income inequality in an economy. |
Created by:
Candy.mcdevitt
Popular Social Studies sets