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Ch. 7,8& 10
Econ 202
11
Economics
Undergraduate 1
01/30/2009

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Cards

Term
Individuals aged 16 years or loder who either have jubs or who are looking and available for jobs, the number of employed plus the number of unemployed
Definition
labor force
Term
the total number of adults (aged 16 or older) who are willing and able to work and who are actively looking for work but have not found a job
Definition
unemployment
Term
the quantity of something, measured at a given point in time
Definition
stock
Term
a quantity measured per unit of time; somthing htat occurs over time, such as the income you make per week or per year or the number of individuals who are fired every month
Definition
flow
Term
a individual in the labor force whose employment was involuntarily terminated
Definition
job loser
Term
an individual who used to work full-time but left the labor force and has now reentered it looking for a job
Definition
reentrant
Term
aan individual in the labor force who quits voluntarily
Definition
job leaver
Term
individuals who have stopped looking for a job because they are convinced that they will not find a suitable one
Definition
discouraged workers
Term
the percentage of noninstitutionalized working-age individuals who are employed or seeking employment
Definition
labor force participation rate
Term
unemployment due to the fact that workers must search for appropriate job offers. this takes time, and so they remain temporarily unemployed
Definition
frictional unemployment
Term
unemployment resulting from a poor match of workers' abilities and skells with current requirements of employers
Definition
structural unemployment
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