This stack is a review of terms found in Chapter 14.
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | Persons 16 years or older that have actively searched for work in the last four weeks, but are not currently employed.
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| Employed | show 🗑
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| show | The number of employed people plus the number of unemployed people.
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| show | A percentage of the labor force that is not currently employed.
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| Labor Force Participation Rate | show 🗑
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| show | The percentage of working age population that is classified as employed
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| Marginally Attached Workers | show 🗑
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| Discouraged Workers | show 🗑
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| show | The official Unemployment rate often distributed by BLS.
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| show | Only includes people unemployed 15 weeks or longer.
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| U2 | show 🗑
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| show | Includes/adds discouraged workers into the official unemployment rate.
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| show | Includes all Marginally attached workers.
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| show | The most all-inclusive of them all. It includes every type of worker or non-worker due to economic reasons.
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| Frictional Unemployment | show 🗑
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| Structural Unemployment | show 🗑
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| Creative Destruction | show 🗑
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| Cyclical Unemployment | show 🗑
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| show | Occurs when cyclical unemployment is not present in the economy. This is economic nirvana and the goal that policymakers should seek to maintain.
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| show | This is the natural rate hypothesis, which suggests that in the long run there is a level of unemployment that the economy maintains independent of the inflation rate.
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| show | Those that exceed the equilibrium market wage
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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