Flashcards
27, 28, 29
Flashcards do conjunto (32)
- 1situation in which someone wants to work but cannot find a job in the current marketUnemployment
- 2people who are in the working-age population and are either employed or unemployed; people who are currently working or are actively trying to find a jobLabor Force
- 3the number of unemployed people divided by the number of people in the labor forceUnemployment Rate
- 4the number of people in the labor force divided by the working-age populationLabor-Force Participation Rate
- 5people who have looked for work in the past year but have given up looking because of the condition of the labor marketDiscouraged Workers
- 6workers who are either working less than they would like to or are working in jobs below their skill levelUnderemployed
- 7a graph showing the relationship between the total quantity of labor demanded by all the firms in the economy and the wage rateLabor Demand Curve
- 8a graph showing the relationship between the total labor supplied in the economy and the wage rateLabor Supply Curve
- 9the normal level of unemployment that persists in an economy in the long runNatural Rate of Unemployment
- 10unemployment caused by workers who are changing location, job, or careerFrictional Unemployment
- 11unemployment that results from a mismatch between the skills workers can offer and the skills in demandStructural Unemployment
- 12unemployment that results from wages being higher than the market-clearing levelReal-Wage or Classical Unemployment
- 13unemployment caused by short-term economic fluctuationsCyclical Unemployment
- 14groups of employees who join together to bargain with their employer(s) over salaries and work conditionsLabor Unions
- 15wages that are deliberately set above the market rate to increase productivityEfficiency Wages
- 16money paid by the government to people who are unemployedUnemployment Insurance
- 17a curve that shows the relationship between the overall price level in the economy and total demandAggregate Demand Curve
- 18a curve that shows the relationship between the overall price level in the economy and total production by firmsAggregate Supple Curve
- 19fluctuations of output around the level of potential output in the economyBusiness Cycle
- 20significant events that directly affect production and the aggregate-supply curve in the short runSupply Shocks
- 21government decisions about the level of taxation and public spendingFiscal Policy
- 22decisions about taxation and spending intended to increase aggregate demandExpansionary Fiscal Policy
- 23decisions about taxation and spending intended to decrease aggregate demandContractionary Fiscal Policy
- 24taxes and government spending that affect fiscal policy without specific action from policy-makersAutomatic Stabilization
- 25the increase in consumer spending that occurs when spending by one person causes others to spend more too, increasing the impact of the initial spending on the economyMultiplier Effect
- 26the amount that consumption increases when after-tax income increases by $1Marginal Propensity to Consume
- 27the amount by which GDP increases when government spending increases by $1Government-Spending Multiplier
- 28the amount GDP decreases when taxes increase by $1Taxation Multiplier
- 29payments from government accounts to individuals for programs, like Social Security, that do not involve a purchase of goods or servicesTransfer Payments
- 30the amount of money a government spends beyond the revenue it brings inBudget Deficit
- 31the amount of revenue a government brings in beyond what it spendsBudget Surplus
- 32the total amount of money that a government owes at a point in timePublic Debt
Informações
- Descrição
- Spring 15 (Macro) FlashCards sobre 27, 28, 29, criado por merrileegibbsdavolt em 14-01-2015.
- Criado por
- merrileegibbsdavolt
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