Chapter 13 Flashcards
1
Q
Frictional Unemplotyment
A
Unemployment that occurs when people take time to find a job
2
Q
Seasonal Unemployment
A
Unemployment that occurs as a result of harvest schedules or vacations, or when industries slow or shut down for a season
3
Q
Structural unemployment
A
Unemployment that occurs when workers’ skills do not match the jobs that are available.
4
Q
Cyclical Unemployment
A
Unemployment that rises during economic downturns and falls when the economy improves.
5
Q
Unemployment rate
A
The percentage of the nation’s labor force that is unemployed
6
Q
Underemployed
A
Working at a job for which one is overqualified, or working part-time when full-time work is desired.
7
Q
Inflation
A
A general increase in prices.
