Unemployment Flashcards
The condition of willing workers lacking jobs or “gainful employment” is?
Unemployment
The unemployment rate is the number of unemployed workers divided by the total __________ ________ _______.
Civilian labor force
Rising ________ increased the crime rate, the suicide rate, and causes a decline in healthiness.
Unemployment
Unemployment insurance in the US does not even replace ____% of the income one received on the job and you can’t get it forever.
50
Higher government transfer payments like welfare and food stamps may decreases spending in productive goods, ___________ GDP.
Decreasing
Turnover in most low-paying jobs is high, in excess of ____%/year.
30
Unemployed workers may be forced to take jobs that do not fit their skills or talents. Therefore, unemployment can cause ________________.
Underemployment
Unemployment may help avert runaway ___________ that affects everyone in the economy.
Inflation
The last few years unemployment has not affected inflation due to expanded international what?
Trade
Unemployment was demonstrated to reduce inflation following the __________ curve, or to decelerate inflation following the ________ (natural rate of unemployment theory)
Phillips
NAIRU
When more jobs are available to _________ workers (lower unemployment) then workers can find jobs that fit their taste, talents and needs.
Fewer
Unemployment may __________ general labor productivity because of fear of job loss.
Increase
Optimal unemployment is a tool to slow the growth of GDP to maintain sustainable levels in the context of ___________ constraints and _____________ impacts.
Resource
Environmental
Substantial over staffing is sometimes called “________ _________” which is seen as underemployment.
Hidden unemployment
There is arguably a market failure due to the existence of _________ costs of firing or laying off someone.
External
On the supply side, workers lack positive net worth that makes it difficult to go into ___________ for themselves.
Business
Unemployment defined in the US is associated with __________ economies.
Capitalist
Others argue that unemployment __________ with more government intervention.
Increases
The unemployment attributed to the individual unemployed workers and their decisions is what?
Voluntary unemployment
This employment exists because of socio-economic environment including market structure, government intervention, and demand.
Involuntary unemployment
Most __________ unemployment is voluntary since it reflects individuals search behavior.
Frictional
What unemployment is the result of economies that experience business cycles of GDP growth and slowdowns?
Cyclical unemployment
The market determines wages based on ____________.
Desirability
Who said that problems with market adjustment arise from the market itself?
Keynes
