Free Economics Flashcards about AP Final flashcards

AP Final flashcards

study cards for final exam

Term Definition
Price floor A government or group imposed price control or limit on how low a price can be changed for a product.
Unemployment The state of being unemployed
Underemployment Workers that are highly skilled
Structural employment A longer-lasting form of unemployment cause by fundamental shifts in an economy
Full employment The condition in which virtually all who are able and willing to work are employed
Unemployment rate A measure of the prevalence of unemployment it is calculated as a percentage by dividing the number unemployed individuals by all individ currently in the labor force

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