https://padlet.com/lperez204138/77qph35hypum Laura Perez Anthony Hernandez Valerie Carlos Andrew Huerta Araceli Mauleon en-us 2018-10-01 16:32:47 UTC 2018-10-02 16:11:42 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Balance.png lperez204138 https://padlet.com/lperez204138/77qph35hypum/wish/287906448 In this chapter we will learned about how Economists look at four basic kinds of unemployment: frictional, seasonal, structural, and cyclical. We will also learned how even in good economic times, unemployment affects millions of Americans. The unemployment rate provides an important clue to the health of the entire economy. How economists use indexes to keep track of rising prices and
to calculate the inflation rate.The level of inflation in the economy can affect wages, purchasing power, and other aspects of everyday life. Despite the tremendous success of our nation's economy, millions of Americans remain poor. The government develops public policies and programs to try to combat poverty.]]> 2018-10-02 00:41:34 UTC https://padlet.com/lperez204138/77qph35hypum/wish/287906448 lperez204138 https://padlet.com/lperez204138/77qph35hypum/wish/287909105 Frictional Unemployment-- occurs when people take time to find a job.
Seasonal Unemployment -occurs when industries slow or shut down for a season or make seasonal shifts in their production schedules.
Structural Unemployment- occurs when workers' skills do not match the jobs that are available.
 Cyclical Unemployment- occurs during economic down turns and falls when the economy improves.(A census is an official count of the population.)
Full employment -is the level of employment reached when no cyclical
unemployment exists.
Unemployment rate- or the percentage of the nation's labor force that is unemployed.
Underemployed,  is working at a job for which they are over-qualified, or working part-time when they desire full-time work.
Discouraged Workers have stopped searching for employment and may need to rely on other family members or savings to support them. ]]> 2018-10-02 01:00:44 UTC https://padlet.com/lperez204138/77qph35hypum/wish/287909105 vcarlos204438 https://padlet.com/lperez204138/77qph35hypum/wish/287909449 What Are Taxes? Local,state, and national governments generate revenue by charging what we call taxes. The constitution spells out specific limits on  government's´ powers to tax. taxation can take several different forms, and people disagree over which method if taxation is most fair.
VOCAB TERMS
Tax- is a required payment to a local, state,
or national government.
revenue-The income received by a government
from taxes and other nontax sources
tax base- The income, property, good, or
service that is subject to a tax.
individual income tax-  The tax base
might be a person's earnings
sales tax- The tax base
might be a person's earnings.
property tax- The value of a property.
company's income tax -  or the value of a
company's profits
proportional tax- A tax for which the
percentage of income paid in taxes remains
the same for all income levels.
progressive tax- A tax for which the
percentage of income paid in taxes
increases as income increases.
regressive tax- A tax for which the
percentage of income paid in taxes
decreases as income increases.
incidence tax-  The final burden of a tax.]]> 2018-10-02 01:03:29 UTC https://padlet.com/lperez204138/77qph35hypum/wish/287909449 ghernandez205045 https://padlet.com/lperez204138/77qph35hypum/wish/287940501  This chapter focuses on the government's budget, taxation, and the overall fiscal policy. To go a bit more into detail, it mentions how the government earns lots of its money from taxation, yet it also determines and affects the government's budget. This plays a huge role in economy, as it highly affects it in determining whether it is good or bad at the time. This chapter also discusses how the fiscal policy leads the government to spend more money than the amount that comes in, which leads us to national debt.

KEY TERMS
Fiscal Policy: the use of government spending and revenue collection
to influence the economy

Federal Budget: a written document indicating the amount of money
the government expects to receive for a certain year

Fiscal Year: a twelve-month period that is not necessarily the same as
the January-December calendar year

Congressional Budget Office: gives congress independent economic data
to help with its decisions

Expansionary Policies: fiscal policies that try to increase output

Contractionary Policies: fiscal policies intended decrease output

Classical Economics: the idea that free markets regulate themselves

Productive Capacity: the maximum output that an economy can sustain
over a period of time without increasing inflation

Multiplier Effect: the idea that every one dollar change in fiscal policy creates
a greater than one dollar change in the national income

Automatic Stabilizers: taxes and transfer payments

Supply-Side economics: believes that taxes have strong negative influence on
economic output
CEA: group of three respected economists that could advise the President on
economic policy

Budget Surplus: occurs in any year when revenues exceed expenditures

Hyperinflation: very high inflation caused by something

National Debt: the total amount of money the federal government owes to bondholders]]> 2018-10-02 04:53:46 UTC https://padlet.com/lperez204138/77qph35hypum/wish/287940501 lperez204138 https://padlet.com/lperez204138/77qph35hypum/wish/288219899 2018-10-02 16:00:59 UTC https://padlet.com/lperez204138/77qph35hypum/wish/288219899