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Chapter 13: Economic Challenges Flashcards | StudBud
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Chapter 13: Economic Challenges
Chapter 13: Economic Challenges
20 terms
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StudBud Administration
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Unemployment, Inflation, and Poverty.
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Answers
1
What are indicating factors of the income gap?
Loss of initiative.
Control of the companies.
Supply of hours.
Differences in skills and education.
2
What is a representative collection of goods and services.
Market Bowl
Market Bucket
Market Bag
Market Basket
3
What are one of the causes of poverty?
Location
Drug Addiction
Vacation
Lack of education
4
What is one factor outside the economy that can cause unemployment?
Terrorist attacks
Natural Disasters
Vacations
Winter season
5
Which graph illustrates the distribution of income in the economy?
LiAngelo Curve
Lonzo Curve
Lorenz Curve
LaMelo Curve
6
What does the federal government give to assist in welfare reform?
Block grants
Brick grants
Federal grants
Patent grants
7
What is a discouraged worker?
A worker that gets a decrease in salary.
A worker that is not enthusiastic about work.
A worker that has stopped searching for unemployment.
A worker that has been criticized negatively by the company.
8
Which program helps low-income recipients buy food?
Food bank shopping
Food sticker organization
Free food service
Food stamp program
9
What does the measurement of price index show?
Average price of a standard good decreasing
Average price of a standard good increasing
Average price of a standard group of goods changes over time
The change in average price of a service
10
Which one is a form of unemployment?
Proportional
Frictional
Conditional
Structural
11
What is purchasing power?
The power to earn money.
The ability to purchase a company.
The ability to purchase goods and services.
The ability to increase demand.
12
What is an inflation?
A general increase in balloon size.
The action of inflating something.
A general decrease in prices across an economy.
A general increase in prices across an economy.
13
What is the income level below which income is insufficient to support a family or household?
Poverty Border
Poverty Curb
Poverty Line
Poverty Threshold
14
What is the quantity theory of inflation?
The demand increases when inflation increases.
Too much money in the economy causes inflation.
Too much supply in the economy causes inflation
The supply increases when inflation increases.
15
Who computes the Consumer Price Index?
Price Index Finder (PIF)
Consumer Price Computers (CPC)
Bureau Labor of Statistics (BLS)
Statistic Analysts (SA)
16
Which one is an effect of inflation?
Purchasing power
Average Price
Supply
Demand
17
What is a situation that occurs when people take time to find a job?
Structural Unemployment
Seasonal Unemployment
Frictional Unemployment
Cyclical Unemployment
18
What does "full unemployment" mean?
There is no structural unemployment.
Those who want to work have full-time jobs.
Every person who wants to work has a job.
There is no cyclical unemployment.
19
What happens when inflation goes up?
Purchasing power goes up.
Purchasing power goes right
Purchasing power goes down.
Purchasing power goes left
20
What is the percentage of the nation's labor force that is unemployed?
No job percentage
Unemployment rate
Unemployment percentage
No job rate
