Econ- Poverty

How does an individual increase the likelihood of earning a higher salary? 

Increase utility and get a higher skill set

Who is included and not included in the Labor Force? 

Generally people above the age of 16 who earn a wage.

Students, people in the military, prisoners

The Civil Rights Act of 1964

outlaws discrimination based on race gender, religion, color, etc in the works place and ensures equal employment opportunities.

Causes that lead to poverty 

• Education (lack thereof)

• Major life events (illness)

• Limited opportunities (urban v suburban)

• Cycle of poverty (difficult to escape poverty)

Opportunities to those in need

Outreach training

Free enterprise zones

Living, medical, dental opportunities

What is Unemployment?

When you are out of a job

Define the different types of unemployment? (Provide an example of each)

Seasonal - only in certain seasons

Cyclical - no jobs at all

Frictional - choosing not to work in search for something different.

Structural - jobs are there, the manor is changing.

What is underemployment?

Overqualified for and underpaying job

How does this country define poverty?

People who make $15,000 or less a year.