Ch. 11.1-11.2- Unemployment & Inflation

One measure of our nation's economy is Unemployment Rate. What does this measure?

• how many workers want jobs

• how many workers don't want to work

• how many workers want a different job

• how many workers want to work, but can't find a job

The Unemployment Rate does not include which of the following:

• people under age 16

• those who don't work because they choose not to (stay-at-home parents)

• those who work less than 40 hours

• those who own their own business

There are levels of unemployment. Someone who was looking for work but gave up trying is __

• marginally attached worker

• discouraged worker

• underemployed

• a quitter

There are levels of unemployment. Someone who is working part-time but would prefer full-time, or who is working a job below their ability/skill-set is ___

• discouraged worker

• marginally attached worker

• underemployed

• lazy

There are a few types of unemployment. Workers who lost their jobs due to poor economic conditions are part of ___ unemployment

• frictional

• seasonal

• structural

• cyclical

Agricultural workers usually don't have work to do during the winter. This is known as ___ unemployment

• frictional

• seasonal

• structural

• cyclical

There are a few types of unemployment. Workers who lost their jobs due to new technology that eliminated their job are part of ____ unemployment

• frictional

• structural

• seasonal

• cyclical

When there is rise in prices due to lack of supply, meaning that the dollar "doesn't buy what it used to" there is __

• inflation

• deflation

• unemployment

• a conspiracy

Because there is too many people willing to buy homes in Southern California, housing prices continue to rise. This is called __

• cost push inflation

• structural unemployment

• demand pull inflation

• supple and demand

When prices rise due to the increased costs of running a production, there is __

• cost push inflation

• demand pull inflation

• supply and demand

• a huge conspiracy