2024- Crash Course #5- Economic Indicators

A monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country^.

A general increase in the prices of goods and services in an economy. This is usually measured using a consumer price index (CPI)

This a business cycle contraction that occurs when there is a period of broad decline in economic activity.

This is defined as intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize the ________ ______ have important implications for the welfare of the general population, government institutions, and private sector firms

This a form of unemployment reflecting the gap between someone voluntarily leaving a job and finding another. Causes include better job opportunities, services, salary and wages, dissatisfaction with the previous job.

This a form of unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers. _____________ unemployment is often brought about by technological changes that make the job skills of many workers obsolete.

• The increase in unemployment during recessions or economic downturns is called _____________ unemployment. This occurs when there is not enough demand in the economy to provide jobs for everyone who wants to work.

Which of the terms from the top of your worksheet would be in the title to this chart?

This reached a record high of 168.7 million civilians in September 2024. In February 2020, at the start of the COVID-19 pandemic in the United States, there were 164.6 million civilians in this. The _______ _________ is the actual number of people available for work and is the sum of the employed and the unemployed.

A __________ ___________ is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working.