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Lecture Notes for ECON 2006 - Principles of Economics with Tanellari at Virginia Tech (VT)

Notes Information

Material Type:Class Note
Professor:Tanellari
Class:ECON 2006 - Principles of Economics
Subject:Economics
University:Virginia Polytechnic Institute And State University
Term:Fall 2008
Keywords:
  • Unemployment Insurance
  • Unemployment
  • Shoe Leather Costs
  • Price Index
  • Cost of Living
  • Cost-of-Living
  • Costs of Inflation
  • Provided That
  • Hyperinflation
  • Consumer Price Index
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chapte r CHAPTER 6 Unemployment and Inflation © 2007 Pearson/Prentice Hall Economics: Principles, Applications, and Tools, 5e O’Sullivan • Sheffrin • Perez chapte r 6.1 EXAMINING UNEMPLOYMENT How Is Unemployment Defined and Measured? • Labor Force The total number of workers, both the employed and the unemployed. • Unemployment Rate The percentage of the labor force that is unemployed. © 2007 Pearson/Prentice Hall Economics: Principles, Applications, and Tools, 5e O’Sullivan • Sheffrin • Perez chapte r 6.1 EXAMINING UNEMPLOYMENT How Is Unemployment Defined and Measured? • Labor Force Participation Rate The percentage of the population over 16 years of age that is in the labor force.  FIGURE 6.1 Unemployment Data, February 2006 © 2007 Pearson/Prentice Hall Economics: Principles, Applications, and Tools, 5e O’Sullivan • Sheffrin • Perez chapte r 6.1 EXAMINING UNEMPLOYMENT How Is Unemployment Defined and Measured?  FIGURE 6.2 Unemployment Rates in Developed C...

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