theone1 Flashcards
(19 cards)
What is the Consumer Price Index (CPI)?
The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
What is deflation?
Deflation is the decrease in the general price level of goods and services.
What is headline inflation?
Headline inflation refers to the total inflation in an economy, including all items in the Consumer Price Index.
What is underlying inflation?
Underlying inflation is the long-term trend in the price level, excluding temporary price shocks.
What is the unemployment rate?
The unemployment rate is the percentage of the labor force that is jobless and actively seeking employment.
What is cyclical unemployment?
Cyclical unemployment is the type of unemployment that results from economic recessions and downturns.
What is structural unemployment?
Structural unemployment occurs when there is a mismatch between the skills of the labor force and the skills needed for available jobs.
What is frictional unemployment?
Frictional unemployment is the short-term unemployment that occurs when people are between jobs or entering the labor market.
What is seasonal unemployment?
Seasonal unemployment occurs when people are unemployed at certain times of the year when demand for labor is lower.
What is natural unemployment?
Natural unemployment is the level of unemployment that exists when the economy is at full employment, including frictional and structural unemployment.
What is hard-core unemployment?
Hard-core unemployment refers to individuals who have been unemployed for an extended period and may have difficulty finding work due to various barriers.
What is hidden unemployment?
Hidden unemployment includes individuals who are not actively seeking work but would accept a job if it were offered.
What is voluntary unemployment?
Voluntary unemployment occurs when individuals choose not to work, often due to personal reasons or preferences.
What is underemployment?
Underemployment refers to individuals who are working in jobs that do not utilize their skills or provide sufficient hours.
What is the participation rate?
The participation rate is the percentage of the working-age population that is either employed or actively seeking employment.
What is the labour force underutilisation rate?
The labour force underutilisation rate measures the proportion of the labor force that is either unemployed or underemployed.
What are leading indicators?
Leading indicators are economic factors that change before the economy starts to follow a particular trend.
What are lagging indicators?
Lagging indicators are economic factors that change after the economy has already begun to follow a particular trend.
What are coincident indicators?
Coincident indicators are economic factors that move at the same time as the economy.
