Economic Performance Vocab

When output decreases, but prices increase

• Stagflation

• Inflation

• Deflation

• Hyperinflation

Factors used by economists to determine where we are in the business cycle

• Leading Indicators

• Leading Inflation

• Capital Deepening

• Lorenz Curve

Post-graduation unemployment

• Frictional

• Structural

• Seasonal

• Cyclical

Unemployment resulting from a worker's skills no longer being demanded by employers

• Structural

• Frictional

• Seasonal

• Cyclical

The opening of investment and trade with foreign companies

• Globalization

• Market Basket

• Income Distribution

• Cyclical

Unemployment resulting in certain times of the year

• Seasonal

• Structural

• Frictional

• Cyclical

Unemployment during a contraction

• Cyclical

• Frictional

• Seasonal

• Structural

The process of increasing one's knowledge

• Capital Deepening

• Leading Indicators

• Core Inflation Rate

• Lorenz Curve

Divide the number of unemployed by the labor force

• Unemployment Rate

• Core Inflation Rate

• Deflation Rate

• Lorenz Curve

Unemployment due to over-qualification or part time employment

• Underemployment

• Full Employment

• Seasonal

• Globalization