Study Midterm 4

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8 Terms

1
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What is cyclical unemployment

loss of jobs due to Economics downturns or recessions

2
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What is Structural Unemployment?

Mismatch between skills of workers and job market needs

3
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What is frictional unemployment?

People are temporarily between jobs or seek jobs

4
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What is Natural Level of Unemployment

Normal rate of unemployment in a economy

5
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What is stabilization policy?


Keep economy steady and prevent economy factors changes

6
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What is Expansionary Policy?

Stimulate economy and fight recessions

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What is contractionary policy?

Slow the economy and control inflation

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