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UNEMPLOYED PERSONS: People who are NOT actively engaged in the production of goods and services, but ARE actively seeking employment in the production of goods and services. This is one of three official categories used to classify individuals by the Bureau of Labor Statistics (BLS) based on information obtained from the Current Population Survey. The other two categories are employed persons and not in the labor force. The sum of employed persons and unemployed persons constitute the civilian labor force. While the general notion of unemployed persons is people who are willing and able to work, but not working, the BLS has specific criteria designed to capture unemployment.
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Man is born to live, not to prepare for life. " -- Boris Pasternak, writer
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LIFO
Last In First Out
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