Economics Unit 3-4

Unemployment resulting from seasonal changes in weather or in the demand for certain products or job

• Frictional

  Uemployment

• Cyclical Unemployment

• Seasonal Unemployment

• Structural Unemployment

Workers are between jobs for one reason or another, usually short term and results from natural changes in the economy

• Structural Unemployment

• Seasonal Unemployment

• Cyclical Unemployment

• Frictional Unemployment

Unemployment that is directly related to swings in the business cycle

• Structural Unemployment

• Cyclical Unemployment

• Frictional Unemployment

• Seasonal Unemplouyment

Unemployment causes by a fundamental change in the economy that reduces the demand for some workers and their skills

• Structural Unemployment

• Cyclical Unemployment

• Frictional Unemployment

• Seasonal Unemployment

Which of the following is counted when looking at unemployment?

• All the people currently working in the United States

• The jobless (16t) who made an effort to find a job in the last month

• People who do not have a job and do not want one

• Those who are disabled or can not work for one reason or another

Part of economic theory that deals with the performance, structure, behavior, and decision-making of an economy as a whole?

• Macroeconomics

• Microeconomces

• Business Economics

• World Economics

What is the Consumer Price Index (CPI)?

• It monitors changes in the stock market to determine prices consumers pay for goods

• It monitors changes in housing prices to determine cost of living

• It tracks monthly changes in prices paid by consumers for a representative "basket" of goods, used to measure inflation

• It tracks changes in GDP to measure economic growth

This occurs when there is general decrease in the price paid for goods and services

• Deflation

• Hyperinflation

• Inflation

• Recession

Inflation occurs when

• The tax rate is lower than the government spending rate

• Demand for products rises

• The price of any given commodity rises

• The average price of most goods and services rises

Who is calculated in the labor force?

• All people who are currently employed

• All persons 16+ who are unemployed and not seeking jobs

• Sum of all persons 16+ who are either employed or actively seeking employment

• Any one who can not work or is not old enough to work