Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

THIRD GRADING PTS > Social Studies PT > Flashcards

Social Studies PT Flashcards

1
Q

Refers to a nation’s adult population who, legally, may be employed.

A

Working age population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Refers to individuals currently holding a job.

A

Employed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Refers to individuals aged 15 years old and above who are not currently working but are available for work and are presently looking for a job.

A

Unemployed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Refers to individuals who are holding a job that does not match their skills, knowledge, or qualifications

A

Underemployed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Refers to all “economically active” individuals or those who are currently working or are presently looking for work.

A

Labor force

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

is a proportion of the working age population that belongs to the labor force.

A

Labor force participation rate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

is the proportion of unemployed persons to the total labor force.

A

Unemployment rate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

refers to unemployment driven by the decrease in aggregate demand for goods and services which leads to a decline in economic growth. (Demand deficient unemployment)

A

demand-side unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

is a specific type of demand-deficient unemployment.

A

Cyclical unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

is the opposite of demand-deficient unemployment which is the category of unemployment largely driven by the disequilibrium in the labor market.

A

Supply-side unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

refers to the situation in which individuals are in between jobs. (search unemployment)

A

frictional unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

is the type of unemployment caused by a job or skills mismatch.

A

Structural unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

is driven by the need to learn new skills

A

Occupational Structural Unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

is a type of structural employment linked to mobility issues

A

Geographical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Automation of previously manual processes.

A

Technological Changes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

is a type of unemployment that is caused by a rise in real wages.

A

Classical unemployment

17
Q

A real wage increase leads to disequilibrium in which the supply of labor is greater than demand.

A

Real wage unemployment

18
Q

Refers to the sum of frictional and structural unemployment

A

Natural rate of unemployment

19
Q

The unemployment is voluntary.

A

Catallactic unemployment

20
Q

All other types of unemployment are not considered natural.

A

Institutional unemployment

21
Q

A special case in which there is increasing inflation and rising unemployment is not unheard of.
The occurrence of such an episode casts doubt on the validity of the Phillips curve.

A

Stagflation

22
Q

What formula do you use when u are trying to find the labor force

A

unemployment + employment

23
Q

What formula do you use when u are trying to find the unemployment rate

A

unemployed/labor force

24
Q

What formula do you use when u are trying to find the labor force participation rate

A

labor force/ working age population

25
Q

Considers the income from different sectors of the economy

A

Income Approach

26
Q

Accounts for the return on the factors of production.

A

Total National Income

27
Q

Covers any indirect taxes related to business and depreciation of assets.

A

Business Cash Flow

28
Q

What is the formula of GDP income approach

A

GDP = Total income + Business cash flow

29
Q

What is the Expanded GDP income approach

A

(wages+rent+profit+interest)+(indirect business taxes-subsidies+depreciation)

30
Q

___________ is the difference of payments received from foreigners and payments made to foreigners for the use of factors of production.

A

net foreign factor income (GNI)

31
Q

What is the formula of GNI

A

GNI = GDP + Net foreign factor income

32
Q

What is the formula of Expenditure Approach/ Aggregate expenditure

A

GDP = Y = C + I + G + NX= AE

33
Q

sometimes referred to as the value-added approach because it considers the value added in each stage of the production process, which is computed as the difference between production inputs and the price of output.

A

Production Approach

34
Q

represents the total income derived from total output or aggregate expenditure, which corresponds to the total expenses associated with production.

A

National Income

35
Q

__________________ is plotted in the x- axis and is represented by real GDP and is denoted by Y

A

Actual expenditure

36
Q

is plotted on the y- axis and is represented by aggregate expenditure and is denoted by AE.

A

Planned expenditure

37
Q

the level of consumption that is independent of income.

A

Autonomous Consumption

38
Q

refers to consumption that is driven by income.

A

Induced Consumption

THIRD GRADING PTS (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions