Inflation
This term describes a sustained increase in the overall price level in an economy.
Inflation.
This term is the state of lacking the financial resources and essentials for a basic standard of living, including food, clothing, and shelter.
Poverty.
This term describes people who are able and willing to work but cannot find a job.
Unemployment.
Raising this economic tool makes borrowing more expensive and can help reduce inflation.
Interest Rates.
This term describes the minimum level of income needed to meet basic needs such as food, clothing, and shelter.
Poverty Line.
This term refers to the percentage of the labor force that is unemployed and actively seeking work.
Unemployment Rate.
This term describes the amount of goods and services your money can actually buy.
Purchasing Power.
This federal program provides health insurance primarily to low-income individuals and families.
Medicaid.
This situation occurs when workers are employed part-time but would prefer full-time work.
Underemployment.
This U.S. central bank is responsible for managing inflation through monetary policy.
Federal Reserve.
This government policy approach uses taxes and spending programs to reduce income inequality and poverty.
Redistribution.
This federal law, passed during the Great Depression, created a national system of unemployment insurance in the United States.
The Social Security Act.
This group often struggles during inflation because their income does not automatically rise with prices.
Retirees (or anyone with a fixed income).
This global organization tracks international poverty rates and often uses a daily income threshold (such as $2.15 per day) to measure extreme poverty worldwide.
World Bank.
When the economy is producing below its potential output because many people are jobless, it is operating inside this economic curve.
Production Possibilities Curve (PPC).