Wednesday, January 19, 2011


1. Census Bureau conducts a monthly study called the Current Population Survey.
2. Structural unemployment that results from changes in technology or in the way the economy is structured.
3. Seasonal unemployment affects agricultural workers.
4. Frictional unemployment attributed to workers moving from one job to another.
5. Underemployed workers who have jobs beneath their skill level.
6. Rapid changes in technology have led to a drop in demand in lower-skilled worker.
7. Poverty thresholds are adjusted annually based on changes in the consumer price index.
8. The poverty threshold is the lowest income level that a family needs maintain a basic standard of living.
9. To measure the amount of inequality in the distribution of income, economists plot a Lorenz Curve.
10. The data used to plot a Lorenz Curve can also be used to compute the Gini Index.
11. The worst degree of inflation is called hyperinflation.
12. High interest rates lead to less consumer spending.
13. Economists use price indexes to calculate the inflation rate.
14. Aggregate supply is the total amount of goods and services produced throughout the economy.
15. As the value of the dollar decreases, the purchasing power of people who rely on fixed income will fall.

No comments:

Post a Comment