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Measuring unemployment


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Measuring unemployment

  2. 2. • inflation initiated by an increase in aggregate demand. ANS: DEMAND-PULL INFLATION
  3. 3. • occurs when the overall price level continues to rise over some fairly long period of time. Sustained inflation is essentially a monetary phenomenon. For the price level to continue to rise period after period, it must be accommodated by an expanded money supply. ANS: SUSTAINED INFLATION
  4. 4. • The number of people employed plus the number of unemployed.ANS: LABOR FORCE
  5. 5. • Measures of prices that producers receive for products at all stages in the production process.ANS: PRODUCER PRICE INDEXES (PPIS)
  6. 6. • A fall in the price level of the economy. It means there will be a negative inflation rate.ANS: DEFLATION
  7. 7. • The increase in unemployment that occurs during recessions and depressions.ANS: CYCLICAL UNEMPLOYMENT
  8. 8. • The unemployment that occurs as a normal part of the functioning of the economy.ANS: STRUCTURAL UNEMPLOYMENT
  9. 9. • The portion of unemployment that is due to the normal working of the labor market; used to denote short-run job/skill matching problems.ANS: FRICTIONAL UNEMPLOYMENT
  10. 10. • The difference between the interest rate on a loan and the inflation rate.ANS: REAL INTEREST RATE