Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
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

Econ vocab

Chapter 14- unemployment

Unemployment the condition of not having a job but being a member of the labor force; person must be jobless but actively search for job in last four weeks.
employed the condition of having a job.
labor force the number of employed plus unemployed people age sixteen and over.
unemployment rate is equal to the number of unemployed persons divided by the number of people in the labor force.
labor force participation rate the labor force divided by the working age population.
marginally attached workers people ready and available to work (have conducted job search within past 12 months but not in last 4 weeks); not counted in official unemployment rate.
discouraged workers people not officially classified as unemployed; have given up job search; official unemployment rate understates actual unemployment.
U3 the official unemployment rate; (all Unemployment rates are published by the BLS).
U1 the unemployment rate that only includes people unemployed fifteen weeks or longer.
U2 unemployment rate that only indicates people who have lost a job as opposed to those who have quit or those who have entered or returned the labor force.
U4 unemployment rate that adds discouraged workers to the official unemployment rate.
U5 unemployment rate that includes all marginally attached workers.
U6 most all-inclusive measure of unemployment; includes all those listed in U1-U5 plus those who are employed part time.
Frictional unemployment always exist in an economy; voluntary unemployment; occurs when a person enters labor force and looks for a job.
structural unemployment unemployment caused by the permanent destruction of jobs in a dying industry, mismatch between skills necessary for employment and seekers's skill set, and government programs that create incentives to remain unemployed.
creative destruction refers to the ongoing process of technological innovation and industrial decline. death of old industry frees land, labor, capital, and entrepreneurship.
cyclical unemployment Unemployment associated with downturns in the business cycle. economist believe that government intervention is necessary to prevent.
full employment level of employment when the economy is productively efficient; associated w/ economy @ natural rate of unemployment.
natural rate of unemployment rate of unemployment that exist when there is no cyclical unemployment present in the economy; thought to be independent from inflation rate.
Created by: Jrendon



Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards