Adults
________ have substantially lower unemployment rates than teenagers.
Structural unemployment
________ occurs when the economy evolves.
variety of reasons
Marginally attached workers are individuals who would like to work and have searched for work in the recent past, but have stopped looking for work for a(n) ________.
CPI
The ________ measures changes in prices of a fixed basket of goods- a collection of items chosen to represent the purchasing pattern of a typical consumer.
Real Nominal Principle
________: What matters to people is the real value of money or income- its purchasing power- not the face value of money or income.
Deflation
________ is the negative inflation or falling prices of goods and services.
Labor force
________ participation rate= (________ /participation 16 years and older) x 100 Alternative Measures of Unemployment and Why They are Important.
Inflation
________ refers not to the level of prices, whether they are high or low, but to their percentage change.
Frictional unemployment
________ is the unemployment that occurs naturally during the normal working of an economy.
Labor force
________ participation rate which is the ________ divided by the population 16 years of age and older.
CPI
If the ________ overstates increases in the cost of living, the government and employers might be overpaying Social Security recipients and workers for changes in the cost of living.
unemployment rate
TheĀ _____________ is the number of unemployed divided by the total labor force
Labor force
____________ participation rateĀ which is the labor force divided by the population 16 years of age and older.
Anticipated inflation
_____________-: costs associated with fully expected
Unanticipated inflation
____________: costs associated with unexpected
hyperinflation
Indeed, when inflation rates exceed 50 percent per month, we have what is calledĀ _____________.
Consumer Price Index
Economists have developed a number of different measures to track the cost of living over time. The best-known measure is theĀ __________________ (CPI).