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WorksheetsEcon Topic 7
Total questions: 10
Worksheet time: 5mins
Unemployment Rate
the percentage of a nations labor force that is not working
the level of employment reached when there is no cyclical unemployment
working at a job for which one is overqualified or working part time when full time is wanted
someone that wants a job but has given up looking
Full Employment
the percentage of a nations labor force that is not working
the level of employment reached when there is no cyclical unemployment
working at a job for which one is overqualified or working part time when full time is wanted
someone that wants a job but has given up looking
Poverty Threshold
an income level below that which is needed to support families or households
percentage of people who live in households with income below the official poverty line
Underemployed
the percentage of a nations labor force that is not working
the level of employment reached when there is no cyclical unemployment
working at a job for which one is overqualified or working part time when full time is wanted
someone that wants a job but has given up looking
Deflation
a general increase in prices across the economy
a sustained drop in the price level
Discouraged Worker
the percentage of a nations labor force that is not working
the level of employment reached when there is no cyclical unemployment
working at a job for which one is overqualified or working part time when full time is wanted
someone that wants a job but has given up looking
Purchasing Power
the ability to buy goods and services
process which rising pay causes higher prices and higher prices cause higher pay
not having the ability to buy goods and services
process which lower prices cause lower pay and lower pay causes lower prices
Wage Price Spiral
the ability to buy goods and services
process which rising pay causes higher prices and higher prices cause higher pay
not having the ability to buy goods and services
process which lower prices cause lower pay and lower pay causes lower prices
Inflation
a general increase in prices across the economy
a sustained drop in the price level
Poverty Rate
an income level below that which is needed to support families or households
percentage of people who live in households with income below the official poverty line
