_______ occurs when people are in between jobs, entering and reentering the labor force.
Macro #2: Unemployment & Inflation

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Social Studies
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12th Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
Frictional unemployment
2.
FLASHCARD QUESTION
Front
Who among the following would be considered as unemployed? A graduating student of legal age to work, An entrepreneur in the process of starting a new business, A secretary who has resigned from work & looking at job ads, A housewife running 2 internet shops at the same time
Back
A secretary who has resigned from work & looking at job ads
3.
FLASHCARD QUESTION
Front
When individuals lose jobs due to a decline in the economy (aggregate demand), often during an economic recession.
Back
Cyclical Unemployment
4.
FLASHCARD QUESTION
Front
Individuals are unemployed due to a lack in skills that modern industries need, change in technology.
Back
Structural Unemployment
5.
FLASHCARD QUESTION
Front
Most countries try to maintain an inflation rate of ______ per year.
Back
Two to three percent
6.
FLASHCARD QUESTION
Front
Which of the following is NOT one of the components of Gross Domestic Product (GDP)?
Consumption, Government spending, Investment
Back
Producer Price Index
7.
FLASHCARD QUESTION
Front
Which of the following causes of inflation is often described as “too much money chasing too few goods”?
Options: Demand-pull inflation, Cost-push inflation, Demand-push inflation, Cost-pull inflation
Back
Demand-pull inflation
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