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9 Cards in this Set
- Front
- Back
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What is unemployment?
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Being out of work, especially involuntary. Unskilled labor
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What are the reasons for unemployment?
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Few new job openings, poor ecomomy, lack of training, major changes in the value of the dollar
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What is inflation?
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it is a rise in the general level of goods and services in the economy
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What are some examples of inflation?
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One theory is too much money in the ecomomy causes inflation, or when the demand for goods and services exceeds existing supply.
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How is the poverty rate determined and give examples?
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The census bureau uses a set of money income thresholds that vary by family size to determine who is in poverty.
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Why does poverty occur?
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Poverty occurs because there is too many people, too little money, food and jobs for people to live.
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What is cyclical unemployment?
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periodic unemployment caused by fluctuations in the business
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What is underemployment?
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employed only part-time when one is available for full-time
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What is structural unemployment?
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unemployment caused by basic changes in the overall economy,
as in demographics, technology, or industrial organization. |
