Chapter 16 Term List

Section 1 Unemployment 1. Bureau of the Census 2. Bureau of Labor Statistics 3. Unemployment rate 4. Unemployed Five kinds of unemployment 5. Frictional Unemployment 6. Structural Unemployment 7. Cyclical Unemployment 8. Seasonal Unemployment 9. Technological Unemployment a. Automation 10. Full Employment Section 2 Inflation 1. Price Level 2. Consumer Price Index 3. Producer Price Index 4. GDP Price Deflator 5. Inflation 6. Inflation Rate Calculation 7. Deflation 8. Creeping Inflation 9. Galloping Inflation 10. Hyperinflation 11. Demand-Pull Theory 12. Government Deficit Theory 13. Cost-Push Theory 14. Wage-Price Spiral Theory 15. Excessive Monetary Growth Theory 16. Consequences of Inflation (4) Section 3 Poverty & the Distribution of Income 1. Distribution of Income 2. Quintiles 3. Lorenz Curve 4. Reasons for Income Inequality (5) 5. Blue-Collar Workers 6. White-Collar Worker 7. Poverty Threshold 8. Poverty Guidelines 9. Income-to-Poverty Ratio 10. What causes the gap in distribution of income? (4 reasons) 11. Welfare 12. Income Assistance 13. General Assistance 14. Social Service Programs 15. Negative Income Tax Theory 16. Enterprise Zones 17. Work-fare programs