Unemployment/Tax/Business Cycle Questions
- What is Structural Unemployment? Give an example.
- How do seasonal and cyclical unemployment differ? Give an example of each.
- When does cyclical unemployment take place?
- What taxes go
to Social Security and Medicare?
- Why isn’t
full employment the same as zero unemployment?
- Explain the 3
tax forms and what their purpose is.
- How has
terrorism affected employment in the USA?
- What does it
mean to be underemployed?
- What are the
4 characteristics of a good tax? Briefly explain each.
- What are the
4 phases to a business cycle? Draw a pictorial representation of a
business cycle.
- What are the
contributing factors to each phase regarding GDP?
- What is
stagflation? Why is it a problem
when an economy experiences it?
- What are the
4 main economic variables that affect business cycles?
- How can
interest rates push a business cycle into a contraction?
- How did the
Great Depression affect economists’ beliefs about the macro economy?
- At what point
of the business cycle would you want to be? In 1-2 sentences explain your reasoning.
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