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19 Cards in this Set

  • Front
  • Back
Labor Force
Those 16 years of age and older who are either working or lookin for work
Unemplyment rate
the nuber of unemployed as apercentage of the labor force
Discouraged workers
those who drop out of the labor foce in frustration because they can't find work
Labor force participation rate
the labor force as a percentage of the adult populatiion
Structural unemployment
unemployent because the skills in demand do not match those of teh unemplyed or the unemployed to not live where the jobs are
cyclical unemployment
unemplynent that fluctuates with the business cycle, increaing during contractions and ecreasing during expansions
full employment
emplyment level were there is no cyclical unemployment
unemployment benefits
cash transfers for those who lose their jobs and actively seek employment
underemployment
workers are overqualifified for their jobs or work fewer hours than they would prefer
hyperinflation
a very high rate of inflation
deflation
a sustained decrease in teh price level
disinflation
a reduction in the rate of inflation
demand pull inflation
a sustaind rise i teh price level caused b a righward shift of the demand curve
cost push inflation
a sustained rise int he price level caused by a leftward shift of the aggreagate supply curve
interest
the dollar amount paid by borrowers to lenders
interest rate
interest per year as a percentage of the aount loaned
nominal interest rate
the interst reate expressed in current dollars as a percentage of the amoung loaned; the interst reat on the loan agreement
real interest rate
the interest reat expressed in dollars of constant purchsing power as a percentage of the amoung loaned; the nominal interest reate minus teh inflation rate
COLA
cost of linving adjustment; the increase ina transfer payment or wage that feflects the increase in the price level