Inflation, business cycle and unemployment

Front

A full time construction worker working 60+ hours a week at $18 per hour plus overtime pay.

Back

Employed

Front

Classify the employment status of a 40-year-old man living at home collecting a disability check. Options: Employed, Unemployed, Not in the Labor Force, Not Applicable / Not Counted

Back

Not in the Labor Force

Front

Laid off autoworker who is receiving unemployment benefits and is looking for a new job.

Back

Unemployed

Front

Unemployment: Which of the following best defines it?

Back

The state of being able to work and actively seeking work, but unable to find employment

Front

What is inflation?

Back

rise in general prices

Front

When inflation is high, the _______________ of the dollar decreases.

Back

purchasing power

Front

Most countries try to maintain an inflation rate of ______ per year.

Back

Two to three percent

Front

The _______ considers the weighted averages of a group of consumer goods and services.

Back

Consumer price index

Front

Demand-Pull inflation can be described as too many _________ chasing too few __________

Back

dollars, goods

Front

What 2 types of inflation are there?

Back

demand pull and cost push