Expansion
What is the top example of an extreme contraction [1929]
What is The Great Depression?
When everyone who wants a job has a job.
What is full employment?
Unemployment that occurs in a contractionary period.
What is Cyclical unemploymen?
This marks the beginning of a recession in the business cycle
What is Peak?
An indicator of a peak beginning
What is when companies start to report flat revenues? [other answers also acceptable.]
I am just tired of looking for work, there are no jobs out there.
What is a discouraged worker?
unemployment that occurs because of lack of skills to fill open jobs.
What is structural unemployment?
The point where an expansion ceases to exist.
What is a peak?
What happens when the GDP turns negative?
What is a contraction?
The amount of people being hired during a peak.
What is little or none?
I have a job, but I really want and am qualified for a better job.
What is underemployed?
What happens to the unemployment rate during a trough?
What is it bottoms out?
The point where an expansion begins immediately after.
What is a trough?
A contraction that lasts longer than 6 month.
What is a recession?
Businesses are doing this at a peak.
What is no longer hiring, slowing production...?
Unemployment that happens naturally due to firing and quitting.
What is frictional?
This occurs during an expansion.
What is when the Federal Reserve lowers interest rates and buys back bonds in the open market to add money to the financial system?
[consumer confidence is high, large investments by business, large purchases, more savings, etc]
When a contraction lasts longer than a year.
What is a depression?
I am located here compared to the trend line.
What is above?
When the economy is at full employment, this is the rate of unemployment still present...
What is natural rate of unemployment?
4-6%