Help
Options
definition
increase in the general level of prices of goods and services
click to flip
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't know
definition
unemployment caused by technological developments or automation that makes some workers' skills obsolete
Remaining cards (24)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
Econ chapter 13 Voca
Chapter 13
| definition | term |
|---|---|
| increase in the general level of prices of goods and services | inflation |
| unemployment caused by technological developments or automation that makes some workers' skills obsolete | technological |
| year serving as point of comparison for other years in a price index or other statistical measure | base |
| difference between what the economy can and does produce | GDP gap |
| explanation that prices rise because all sectors of the economy try to buy more goods and services than the economy can produce | demand-pull-inflation |
| series used to measure price changes for a representative sample of frequently used consumer items | consumer price index |
| unemployment caused by annual changes in the weather or other conditions that reduce the demand for jobs | seasonal |
| unemployment directly related to swings in the business cycle | cyclical |
| statistical series used to measure changes in the price level over time | price index |
| period of slow economic growth coupled with inflation | stagflation |
| unemployment involving workers changing jobs or waiting to go to new ones | frictional |
| decrease in the general level of prices for goods and services | deflation |
| representative selection of goods and services used to compile a price index | market basket |
| unofficial statistic that is the sum of the monthly inflation and unemployment rates | misery index |
| unemployment caused by a fundamental change in the economy that reduces the demand for some workers | structural |
| index used to measure prices received by domestic producers | producer price index |
| working for less than one hour per week for pay or profit in a non family owned business while being available and having made an effort to find a job during the past month | unemployed |
| percentage of people in the civilian labor force who are classified as unemployed | unemployment rate |
| unofficial statistic that is the sum of the monthly inflation and unemployment rates | discomfort index |
| relatively low rate of inflation usually 1 to 3 percent annually | creeping inflation |
| inflation in excess of 500 percent per year | hyperinflation |
| non institutionalized part of the population aged 16 and over either working or looking for a job | civilian labor force |
| hiring outside firms to perform non core operations to lower operating costs | outsourcing |
| explanation that risen input costs especially energy and organized labor drive up prices of products | cost push inflation |
| index used to measure price changes in GDP | implicit GDP price deflater |
Created by:
18grabpai
Popular Economics sets