Key Terms

Match each of the terms on the left with its definition on the right. Click on the term first and then click on the matching definition. As you match them correctly they will move to the bottom of the activity.

Question

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Employment, p. 348

Unemployment, p. 348

Labor force, p. 349

Labor force participation rate, p. 349

Unemployment rate, p. 349

Discouraged workers, p. 350

Marginally attached workers, p. 350

Underemployment, p. 350

Jobless recovery, p. 353

Job search, p. 355

Frictional unemployment, p. 355

Structural unemployment, p. 356

Efficiency wages, p. 358

Natural rate of unemployment, p. 359

Cyclical unemployment, p. 359

Real wage, p. 363

Real income, p. 363

Shoe-leather costs, p. 364

Menu cost, p. 364

Unit-of-account costs, p. 365

Interest rate, p. 366

Nominal interest rate, p. 366

Real interest rate, p. 366

Disinflation, p. 367