Value of the dollar in terms of buying power changes from year to year because of this.
What is changes in the price level?
100
This is the definition of full employment.
What is the lowest unemployment rate that can be sustained without causing increasing inflation?
100
This is the equation that computes the natural unemployment rate.
What is the Frictional Unemployment Rate + the Structural Unemployment Rate?
200
The sum of the number of people employed plus the number unemployed.
What is the Labor Force?
200
The CPI for 1945 was 18.0 and the CPI for 1946 was 19.5. This is the rate of inflation for 1946.
What is 8.3%?
200
This is the equation to compute Real Value.
What is Nominal Value divided by (Nominal Price Index/Price Index Adjusted to)?
200
This defines those people with paying jobs.
What is Employed?
200
This is a type of unemployment that is caused by downturns in the business cycle.
What is Cyclical Unemployment?
300
The lowest unemployment rate that can be sustained without causing increasing inflation.
What is the natural unemployment rate (or full employment)?
300
The CPI for 1964 was 31.0 and the CPI for 1965 was 31.5. This is the rate of inflation for 1965.
What is 1.6%?
300
In 1982, the average Oklahoma teacher salary was $16,781. The average Oklahoma teacher salary was $44,391 in 2012. This is the real average Oklahoma teacher salary in 2012, adjusted to the 1982 price level.
What is $18,657?
300
This defines those without paying jobs who are actively seeking employment.
What is Unemployed?
300
These two macroeconomic goals may conflict in the short run.
What is full employment and economic growth?
400
A type of unemployment resulting from the time required to match workers with jobs.
What is Frictional Unemployment?
400
The CPI for 1989 was 124.0 and the CPI for 1990 was 130.7. This is the rate of inflation for 1990.
What is 5.4%?
400
In 1982, the average Oklahoma teacher salary was $16,781. The average Oklahoma teacher salary was $44,391 in 2012. This is the real average Oklahoma teacher salary in 1982, adjusted to the 2012 price level.
What is $39,926?
400
This is the equation that computes the Labor Force.
What is Employed + Unemployed?
400
This type of economic growth destroys jobs.
What is a technological advance?
500
A type of unemployment resulting from workers not having the skills required in the available jobs.
What is Structural Unemployment?
500
The CPI for 2012 was 229.6 and the CPI for 2013 was 233.0 This is the rate of inflation for 2013.
What is 1.5%.
500
In 1922, the average Oklahoma teacher salary was $994 and the CPI was 16.8. This is the real average Oklahoma teacher salary in 1922, adjusted to the 2012 price level.
What is $13,579?
500
This is the equation that computes the unemployment rate.
What is Unemployed / Labor Force?
500
This is the largest category in the market basket.