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The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6
-If the quantity demanded for labor is more than the quantity supplied, there will be unemployment.
Consumer Price Index
A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
Market Basket
A collection of goods and services used to track price changes over time for the purpose of calculating inflation or cost of living adjustments.
Consumer Goods
Products that are purchased for consumption by the average consumer.
Discouraged Workers
Individuals who are not actively seeking employment because they believe no jobs are available for them.
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