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all people age 16 and above who are either employed or unemployed : labor force. people who are actively looking for work but are currently unemployed: unemployed. percentage of people in the labor force who are classified as unemployed: unemployment rate. type of unemployment that means you are between jobs: frictional . type of unemployment that means your job was lost due to economic growth: structural. type of unemployment that means you do not have a job due to a change in the business cycle: cyclical. general rise in the price level throughout the economy, reduces purchasing power of money: inflation. general fall in the price level throughout the economy, increases purchasing power of money: deflation. most commonly used measurement of inflation, calculated using a market basket: consumer price index. rapidly rising general level of prices: hyperinflation. an organized group of workers formed to protect rights and interests: labor union. cycle of economic expansion and contraction; shows peak, trough, contraction, and expansion: business cycle. Match the characteristics of the business cycle phases to the correct phase: low unemployment, high GDP, inflation may be high

Which of these is an example of conspicuous consumption: Buying an $60,000 car when a $20,000 car would meet your needs. Rebates and warranties are examples of _____________________, which are designed to encourage you to make a purchase: sales incentives. The _________________ can be used to check on a business and make sure they are reputable: Better Business Bureau. Companies try to get consumers to spend money on their products by promoting a particular good or service to consumers. This is called ____________________: advertising.. All of the following are examples of anticipated expenses except _____________________: medical bills.. Unanticipated income are payments received that are not foreseen or may happen at irregular intervals. These can include bonuses and gifts: Truie. Unanticipated expenses could result from ___________ —such as a sick pet, a broken tooth, a flat tire, or a ruined pair of shoes—which cannot be ignored: emergencies. The largest fixed expense for a homeowner would be the _______________: Mortgage paymnet. If renting, you may have to pay all of these EXCEPT _______________: appliance repairs.. Which of these is required to get a mortgage? : Homeowners' insurance. A friend falls at your house and has medical bills from the fall.  Their expenses are covered by your _______________ insurance policy: Homeowners'. A plan made in advance regarding the expenditure of money based on available income is called _______________: budget. If you find yourself spending too much money each month, adjust your budget lines and take some money out of the nonessential categories—like rent and food: False

Download this Grade 7 integer worksheet with 30 problems on operations, absolute value, and logic puzzles. Aligned to CCSS.MATH.CONTENT.7.NS.A.3. Answer key.

When a price ceiling is in place keeping the price below the market price, which is true of the quantity demanded & quantity supplied: Quantity Demanded is greater. An effective price floor must be set above equilibrium, resulting in:: a surplus. If the government set the price at $700, would that be a price ceiling or floor: Price Floor . If the government set the price at $300, what would be the result: Shortage of 4,000. If the government creates a price floor of $80, which one of the following statements is correct: . If the government creates a price ceiling of $30, which one of the following statements is correct: There is a shortage of 100. If the Market price is $50,, which of the following is True of Quantity Supplied and Quantity Demanded: . What would result if the price were set at $1.75: Surplus, Quantity Supplied is greater. A review of the jargon: Is the minimum wage a “price ceiling” or a “price floor: price floor. A review of the jargon: Is rent control a “price ceiling” or a “price floor?”: price ceiling. When a price ceiling is in place keeping the price below the market price, what’s larger: quantity demanded or quantity supplied: Quantity demanded. Suppose the government sets a price ceiling of $80. How large will the shortage be: 4 million coats. Suppose again that the government sets a price ceiling of $80 and that people line up to get this good. For how long will people wait in line to obtain a coat if they value their time at $10 an hour: 4 hours. Price ceiling is a legal maximum price for a product. : True. Price ceiling is located above the equilibrium price. : False