LABOR ECONOMICS
This organization works to improve wages and working conditions for workers.
What is a Labor Union?
This branch of economics studies the economy as a whole.
What is Macroeconomics?
This measures the total value of goods and services produced in a country.
What is GDP?
This refers to people moving into another country to live or work.
What is Immigration?
This is a period of declining economic activity and rising unemployment.
What is a Recession?
This is the number of workers willing and able to work at different wages.
What is Supply of Labor?
This refers to people actively looking for work but unable to find jobs.
What is Unemployment?
This is household spending on goods and services.
What is Consumption?
Some economists argue that over the long-term, immigration can increase this by expanding production, consumer demand, and the labor force.
What is Economic Growth?
This is a general increase in prices over time.
What is Inflation?
This is the number of workers employers are willing to hire at different wages.
What is Demand for Labor?
This type of unemployment happens when people are temporarily between jobs.
What is Frictional Unemployment?
This component of GDP includes business spending on factories, equipment, and technology.
What is Investment?
Highly skilled immigrants are often associated with increases in this through new technologies, inventions, and business creation.
What is Innovation?
This occurs when prices fall continuously over time.
What is Deflation?
This occurs when workers are paid differently based on unfair characteristics.
What is Wage Discrimination?
This type of unemployment occurs when worker skills no longer match available jobs.
What is Structural Unemployment?
This type of GDP uses current prices and does not adjust for inflation.
What is Nominal GDP?
In the short-term, an increase in immigration may increase labor supply and place downward pressure on this.
What are Wages?
This occurs when prices rise while economic growth slows and unemployment rises.
What is Stagflation?
This type of labor market has only one major employer.
What is a Monopsony?
This type of unemployment happens during economic downturns.
What is Cyclical Unemployment?
This adjusts GDP for changes in prices over time.
What is Real GDP?
Economists argue that immigration can increase this by adding more workers and increasing the amount of goods and services produced in the economy.
What is Productivity?
This occurs when borrowing and spending remain low even with very low interest rates.
What is a Liquidity Trap?