Post 25

America on the Ginni index is 40.  People my think that we are the best country to live in and that we have no problems.  However, this is completely untrue. Especially now with the way our economy is we are struggling to stay a float. For example comparing us to nations in Europe that we believe we are equal to, why are they are so low on the Ginni Index however we are so high? Are government needs to think of plan quick to help or countries economy get stronger before we fall off the deep end.

Post 24

THIS IS NOT REAL, MR CAMPBELL ASKED US TO MAKE UP SCENARIOS FOR THE FALLOWING:          

  Structural Unemployment- I decided to be a milk man. However, they stopped having people going around delivering and instead they started selling it in stores.  So now I am structural Unemployed.

          Seasonal Unemployment- I always have been a fan of being on the beach.  I decided to be a lifeguard; however there is only one season of the year that you can be a lifeguard.  During the spring, fall, and winter they don’t need me so I am seasonal unemployed.

            Frictional Unemployment- Right after college I had earned my degree in teaching, however after a couple of years of being a teacher I decided that I want to higher my education.  I started to take night classes and now have my Dr. Degree.

            Cynical Unemployment- Because of the economy and the budget cut for teachers.  I was about to get ten year but they needed to lay off teachers and I was one of them.  I am now cynical unemployed.

Wanted add POST 23

Post 22- Quiz's

Quiz 1- FACTS:
       1.) In 2000 some 1.1 million people were marginally attached workers.
       2.) Discouraged workers are a subset of marginally attached workers.
       3.) Underemployment represents wasted resources and lost output.
       4.) Anyone who is not classified as either employed or unemployed is considered not a part of the labor force.
       5.) Some unemployment is unavoidable and a natural part of a healthy economy. Economists consider an unemployment rate of about 5 percent to represent full employment.

Quiz 2- FACTS

      1.) Aggregate supply is the total amount of goods and servuces that are produced throughout the economy.
      2.) Inflation is the increase of average price level of all products in an economy.
      3.) Deflation is the decrease in an average price level of all goods and services in an economy.
      4.) To measure the price level, economists cconstruct a price index.
      5.) Economists use price indexes to calculate the inflation rate.

Quiz 3- FACTS:

         1.) Income inequality in the U.S. had become greater than in any other large industrialized country in the 1990's.
         2.) In 2000 the poverty threshold for a family of four was $17,761.
         3.) In 1999 the poverty rate was 11.8 percent.
         4.) The Lorenz Curve is used by economists to measure the amount of inequality in the distribution of income.
         5.) The Gini Index is another statistical measure of income inequality.

Post 21

National Income Accounting: A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, that includes gross domestic product (GDP), gross national product (GNP), and net national income (NNI).

Gross Domestic Product: is the measure of an economy that was adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation's borders during a given period (usually 1 year)

Output expenditure model: total output responds to the demand for it.

Personal Consumption expenditure: the component statistic for consumption in GDP collected by the BEA. It consists of the actual and imputed expenditures of households and includes data pertaining to durable and non-durable goods, and services

Gross Investment: the measure of investment used to compute GDP. This is an important component of GDP; it provides an indicator of the future productive capacity of the economy

Nominal GDP: GDP as actually measured, in current dollars

Real GDP: a macroeconomic measure of the size of an economy adjusted for price changes

Price Index: an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time

Underground Economy: refers to both legal activities, such as often found in construction and services industries where taxes are not withheld and paid, and illegal activities, such as drug dealing and prostitution

Gross National Product: former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr)

Business Cycle: recurring fluctuations in economic activity consisting of recession and recovery and growth and decline

Expansion: In business cycle, economic growth

Peak: In business cycle, height of economic prosperity

Contraction: In business cycle, a period of economic decline marked by falling real GDP

Recession: a recession is a business cycle contraction, a general slowdown in economic activity over a period of time

Depression: a sustained, long-term downturn in economic activity in one or more economies

Trough: Lowest point in economy

Leading Indicators: indicators in economics and finance used to predict the future

Lagging Indicators: indicators in economics and finance used to measure the past

Coincident Indicators: is a statistic about the economy. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles.

Real GDP Per Capita: related to all economic indicators that are calculated, usually at the end of a fiscal year

Labor Productivity: Workforce productivity is the amount of goods and services that a labourer produces in a given amount of time.

Productivity Growth: a measure of output from a production process, per unit of input

Capital-to-labor ratio: Example, labor productivity is typically measured as a ratio of output

Capital Deepening: a term used in economics to describe an economy where capital per worker increases. This is also known as increase in the capital intensity.

GDP chart.

Post 18- Twitter man

Text 1 I would like to able to use this link on my midterm because I believe that it would greatly help me.  It gives you definitions for vocab and is very easy to navigate.  All you have to do is click on the letter that the word begins with that you are looking for and search from the list it gives you.

Text 2 This website will also help me with my midterm because it lists all the materials that we have gone over in class.  It has several different categories that you can choice from and when you click on them it gives you the definitions and examples for the term.

Text 3 This website is the last website that I would like to be able to use on my midterm.  This has different links that you are able to click on to explore the world of economics and gives your resourceful links.