Name at least 2 major causes of Structural Unemployment.
What are Development of new technologies, Discovery of new resources, Changes in consumer demand, Globalization, and Lack of education.
100
A general increase in prices is this. And, and a general decline is prices is this.
What are 1. inflation 2. deflation
100
This is the percentage of people who live in households whtih income below the official poverty threshold.
What is the poverty rate?
100
If a retired person receives a fixed income, and each year inflation is 5%, then this will have to purchasing power.
What is decrease?
100
A recent college grad that struggles to find work right away is experiencing this type of unemployment.
What is frictional unemployment?
200
Working for a job for which one is over-qualified, working part-time when one desires full-time work.
What is underemployment?
200
A representative collections of goods and services is called this.
What is a market basket?
200
These are gov't-issued coupons that recipients exchange for food.
What are food stamps?
200
DAILY DOUBLE DAILY DOUBLE
Which age group represents the highest percentage of people living in poverty?
What are children?
200
What number is representative of base year for CPI?
What is 100?
300
Name the 4 types of unemployment.
What are cyclical, seasonal, structural, and frictional?
300
Name the 3 theories about the causes of inflation.
What are quantity theory, demand-pull, and cost-push theory?
300
Name the 3 major anti-poverty proposals or policies mentioned in your textbook.
What are enterprise zones, employment assistance, and welfare reform.
300
This is the definition of workfare.
What is a program that require work in exchange for assistance?
300
A single mother that works 40 hours a week, making slightly above minimum wage, is considered a part of this group.
What is the working poor?
400
This is the formula for determing the unemployment rate in the economy.
What is (#unemployed/Labor Force) x 100?
400
The following formula is how you calculate the CPI (Consumer Price Index).
What is (Updated Cost/Base Period Cost) x 100?
400
Name 2 of the 3 reasons for differences in income among Americans.
What are Differences in skills and education, Inheritances, and Field of Work?
400
When the economy is working properly, this is typical unemployment range.
What is 4%-6%?
400
This is a measurement of how the average price of a standard group of goods changes over time.
What is price index?
500
To generate the unemployment rate, this govn't body polls a sample of the population of this number of families.
What is 1.Bureau of Labor Statistics and 2. 50,000 families?
500
What is the formula for determing the inflation rate?
What is (CPI for Year A - CPI for Year B)/CPI for Year B x 100.
500
A Lorenze Curve demonstrates this.
What is Distribution of Income?
500
This is the name of the survey that the Bureau of Labor Statistics conducts to determine the market basket for CPI.
What is the Consumer Expenditure Survey?
500
Demand for higher wages can then lead to Higher costs to consumers, which then lead to higher prices to consumers, which will finally lead to a new demand for higher wages. This is called __________.