In the 2008-09 Recession, the Percentage of Part-Time Workers Due

question 91

Multiple Choice

In the 2008-09 recession, the percentage of part-time workers due to economic reasons

• A)decreased slightly over the period.
• B)did not include teenagers.
• C)rose to almost 18 percent.
• D)equalled the unemployment rate for those who are part-time workers due to non-economic reasons.
• E)doubled from 3 percent to 6 percent.

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Definitions:

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Short-Run Phillips Curve

An economic model suggesting an inverse relationship between the rate of inflation and the unemployment rate in the short term.

Sacrifice Ratio

The measure of the decline in a country's economic output as a result of efforts to reduce inflation.

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A condition characterized by a significant and sustained rise in the general level of prices for goods and services, eroding purchasing power.