Chapter 11

2. An increase in the average price level of all products in an economy
4. An event that increases the cost of production for all or many businesses
5. A cycle that occurs when increased wages raise production costs, which lead to higher prices for goods, which then forces workers to demand for higher wages again
6. A graph showing how actual income compares to what the income is supposed to be
8. A mathematical measure of how income is unevenly distributed in an economy
12. People who once held productive jobs but have given up looking for work
15. When aggregate demand increases faster than the economy's productive capacity
16. The percentage of people in the civilian work force who are unemployed
17. Measure of the average change over time in price for a certain type of products
18. A decrease in the average price level of all products in an economy
19. Total amount of goods and services produced throughout the economy
20. Inflation is increasing at a rate of several hundred percent a year
21. Another word for poverty level
22. The percentage of individuals or families in a population that are living in poverty

1. Unemployment that occurs as a result of changes in technology or in the way the economy is structured
3. When produces raise prices to cover higher resource costs
7. Total amount of spending by individuals and businesses throughout the economy
9. Workers who have jobs beneath their skill level or who want full-time jobs but can only find part-time jobs
10. Measure of the average change in prices over time for goods and services bought by consumers
11. When workers are moving from one job to another
13. People who want a job but have stopped looking for work due to job-related reasons
14. Unemployment that results from fluctuations of holidays, school years, harvest schedules, and industry production schedules