ECO201_M2 terms.docx - ECO201u2014Module 2 Terminology...

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ECO201—Module 2 Terminology Directions : Define each of the terms below and evaluate the significance of each term to the topics presented within the textbook. Chapter 7 Term Definition Significance Unemployment Labor force Stock Flow Job Loser New entrant Discouraged workers Labor force participation rate Frictional unemployment Structural unemployment Cyclical unemployment Seasonal unemployment Full unemployment Natural rate unemployment Inflation Deflation

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