What is the Arrhenius definition of an acid? A base?
Unemployment 10/30/2014 ▯ GDP: monetary amount of goods/services produced per year C + I + G + Xn a. Limit Inflation = promote price stability b. Limit Unemployment ▯ ▯ Limit Unemployment ▯ ▯ Unemployment Rate = # Unemployed x 100 ▯ # in labor force ▯ - Percent of people in the labor force who want a job, but are not working. Above 16 years old Able and Willing to work Not institutionalized (jails, hospitals) Not in military, school full time, or retired ▯ Part time work is counted the same as full time * ▯ ▯ Frictional Unemployment Temporarily Unemployed or between jobs Qualified workers with transferable skills, but aren’t working EX: high school/college graduates, fired & looking for a job Seasonal Unemployment o Due to the time of the year and nature of the job o EX: Santa Claus ▯ Structural Unemployment Changes in the structure of the labor force make some skills obsolete Workers do not have transferable sills and these jobs will never come back Workers must learn new skills to get a job Permanent loss of these jobs is called “creative destruction” EX: VCR repairmen, Carriage makers ▯ Cyclical U