Chapter 10 Practice

Chapter 10 Practice - Chapter 10 Practice & Repetition...

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Chapter 10 Practice & Repetition
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Unemployment How is the unemployment rate calculated?
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Unemployment Unemployment rate = no. of unemployed/ no. of people in civilian labor force
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Unemployment When is someone considered as working? When is someone considered as unemployed?
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Unemployment Someone is counted as employed if Work for pay More than 15h/week work w/o pay in a family enterprise Someone is counted as unemployed, but as part of the civilian labor force of Actively seeking employment
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Unemployment What different types of unemployment exist? How are they characterized?
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Unemployment Types of Unemployment Frictional UE Cyclical UE Structural UE
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Unemployment Why might it be difficult at times to interpret changes in the unemployment rate? Does the unemployment rate appropriately measure the employment situation for every worker in the economy?
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Inflation What is inflation??
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Inflation Inflation is a rise in the general price level
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Inflation Why is unanticipated inflation considered as a severe problem by economists??
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Redistributive effects of inflation Who is favored? Who is harmed?
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Chapter 10 Practice - Chapter 10 Practice & Repetition...

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