Economics Questions

drivers of competitive actions and responses*influenced by market commonality and resource similarity

unemployment due to the ____ char of the economy that make it difficult for job seekers to find employment and for employers to hire workers-although job openings are available, thy generally require skills many unemployed workers do not have

the level of employment that results from the efficient use of the labor force taking into account the normal (natural)rate of unemployment due to information cost, dynamic changes, and the structural conditions of the economy.-for the US, _____, is thought to exist when approximately 95% of the labor force is employed

the number of people in the civilian labor force 16 years of age or over who are either employed or actively seeking employment as a percentage of the total civilian population 16 years of age and over

the "normal" unemployment rate due to frictional and structural conditions in labor markets-it is the unemployment rate that occurs when the economy is operating at a sustainable rate of output-the current natural rate of unemployment in the US is thought to be approximately 5%

the number of people 16 years of age and over who are either employed or unemployed.-to be classified as unemployed, a person must be looking for a job

an increase in the general level of prices that was expected by most decision-makers

fluctuations in the general level of economic activity as measured by variables such as the rate of unemployment and changes in real GDP

the level of output that can be achieved and sustained in the future, given the size of the labor force, its expected productivity, and the natural rate of unemployment consistent with the efficient operation of the labor market. actual output can differ from the economy's potential.

unemployment due to constant changes in the economy that prevent qualified unemployed workers from being immediately matched up with existing job openings-results from imperfect info and search activities related to suitable matching employees with employers

the term used to describe a person not currently employed who is either1. actively seeking employment2. waiting to begin or return to a job

the number of people 16 years of age and over employed as civilians divided by the total civilian population of 16 years of age and over. the ration is expressed as a percentage

an increase in the general level of prices that was not expected by most decision-makers

unemployment due to recessionary business conditions and inadequate labor demand

the percentage of unemployed people in the labor force.-mathematically, it is equal to the number of people unemployed divided by the number of people in the labor force

a downturn in economic activity characterized by declining real GDP and rising unemployment-in an effort to be more precise, many economists define a ____ two consecutive quarters in which there is a decline in a real GDP

An increase in human factors can lead to an increase in _____ output

Laws to be set and upheld which allows firms to operate with confidence in a safe environment.

modern sector (industry/manufacturing). Productivity in the traditional sector is low and additional labour adds very little or nothing to output. Therefore if people leave the 'land', output will not fall as there is an abundance of labour available. Productivity in the modern sector is growing and so is the demand for labour.

recipient country is obliged to purchase them from the donor country.