Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Unemployment

This stack is a review of terms found in Chapter 14.

TermDefinition
Unemployed Persons 16 years or older that have actively searched for work in the last four weeks, but are not currently employed.
Employed Persons who have worked at least one hour in the previous two weeks.
Labor Force The number of employed people plus the number of unemployed people.
Unemployment Rate A percentage of the labor force that is not currently employed.
Labor Force Participation Rate The percentage of working age population classified as either employed or unemployed.
Employment-to-Population Ratio The percentage of working age population that is classified as employed
Marginally Attached Workers Persons not considered in the official unemployment rate.
Discouraged Workers Persons that are unemployed in a general sense,but do not meet the technical definition. They are often products of Marginally Attached workers or part-timers.
U3 The official Unemployment rate often distributed by BLS.
U1 Only includes people unemployed 15 weeks or longer.
U2 Only includes people who have lost a job as opposed to those who have quit or those who have entered or re-entered the Labor Force.
U4 Includes/adds discouraged workers into the official unemployment rate.
U5 Includes all Marginally attached workers.
U6 The most all-inclusive of them all. It includes every type of worker or non-worker due to economic reasons.
Frictional Unemployment It occurs when people voluntarily enter the labor force, or when they are between jobs for which they qualify.
Structural Unemployment It occurs when job seekers' skill sets are not in demand because of geography or obsolescence. An outcome of creative destruction.
Creative Destruction Occurs when old technology or industries die out, creating and freeing up resources for new technology and industries.
Cyclical Unemployment Occurs because of contractions in the business cycle.
Full Employment Occurs when cyclical unemployment is not present in the economy. This is economic nirvana and the goal that policymakers should seek to maintain.
Natural Rate of Unemployment This is the natural rate hypothesis, which suggests that in the long run there is a level of unemployment that the economy maintains independent of the inflation rate.
Efficiency Wages Those that exceed the equilibrium market wage
Created by: AJG62738
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards