Chapter+13+Work

3/1/11
 * 1. Describe frictional, seasonal, structural, and cyclical unemployment.**
 * 2. Describe how full employment is measured.**
 * 3. Explain why full employment does not mean that every worker is employed.**


 * 1) Frictional unemployment is when people take time to find a job such as when they get recently fired or laid off. Seasonal is when an industry slow or shut down for a season or make seasonal shifts in their production schedules. structural occurs when workers skills do not match the jobs that are available. Cyclical is during recessions or down tunes in the business cycle.
 * 2) Full employment is measured with graphs and using formulas to see how employment is going.
 * 3) Full employment only means that nearly everyone who wants a job has a job but some aren't happy with their jobs and are underemployed.

3/2/11 Read pages 338-350...answer pg 343 #1-3, pg 353 # 9-14

9. Prices rising, dollar power going down, and general rise of products are all effects of inflation. 10.The CPI helps calculate the general prices for goods and that helps see how inflation is affecting products. 11. The government helps fight poverty by making enterprise zones and offering both employment assistance and welfare. 12. The three causes of inflation are the quantity theory meaning that there is too much money in the economy, the demand-pull theory stating that demand for goods exceeds existing supplies, and cost-push theory when producers raise prices in order to meet increased costs. 13. Unemployment is measured with the census then the BLS use the data to calculate the number of unemployed. 14. Inner city african americans with single parents raising children are the most affected by poverty.
 * 1) inflation affects purchasing power because as inflation rises so do the prices and in turn the power of the dollar falls leaving the purchasing power lower than it was. An example would be Germany in WWII when children used stacks of money to play with because their economy sucked.
 * 2) The consumer price index or CPI is used by the Bureau of labor statistics each month to measure the price of a standard group of goods meant to represent the "market basket".
 * 3) The wage-price spiral is when wages go up so do the prices of goods and then with prices going up so will the prices and so forth and so forth.