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EMPLOYMENT-POPULATION RATIO: The ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment rate, the employment-population ratio is used as an alternative indicator of the utilization of labor resources.

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Lesson 5: Demand | Unit 3: Demand Curve Page: 9 of 20

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This table is a demand schedule presenting the relationship between demand price and quantity demanded.

Assumptions:

  • Ceteris paribus factors do not change.
  • Data is for a specific time period.
Observations:
  • First, higher prices go with lower quantities demanded-the law of demand.
  • Second, the prices and quantities are maximum values.
  • Third, demand is the whole set of price/quantity pair numbers. Quantity demanded is any single number at the specified price.
  • By the way, these numbers are hypothetical.

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EXPANSIONARY FISCAL POLICY

A form of fiscal policy in which an increase in government purchases, a decrease in taxes, and/or an increase in transfer payments are used to correct the problems of a business-cycle contraction. The goal of expansionary fiscal policy is to close a recessionary gap, stimulate the economy, and decrease the unemployment rate. Expansionary fiscal policy is often supported by expansionary monetary policy. An alternative is contractionary fiscal policy.

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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for strangers with large satchels of used undergarments.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

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