ECON 333 Quiz #3
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14 Terms
Population Requirements
Civilian, non-institutionalized and 16+
Parts of Labor Force
Employeed and unemployed
Population
Labor Force + not in Labor Force
Participation Rate
Labor Force / (Civilian non - institutionalized population)
Employment Population Ratio
Employed / (Civilian non- Institutionalized population)
Unemployment Rate
Unemployed / Labor Force
Frictional Unemployment
Job search
Structural Unemployment
Changes in structure of economy
Cyclical unemployment
Changes in business Cycle
Actual Unemployment
Frictional + structural + cyclical
Natural Unemployment
Frictional + structural
u/ (natural rate of unemployment )
Natural unemployment / Labor Force
Note 
Flashcards (20)