Extensions of Unemployment Benefits
Unemployment benefits are available to anyone who was laid off and is actively looking for work. Those who were…
What is disguised unemployment?
DEFINITION Disguised Unemployment is when workers are employed, but they are not working or their time is only partially…
What is Laissez-Faire Economic Theory (LFE)?
Laissez faire economics restricts the government’s intervention in the economy. The theory holds that an economy’s strength is when the…
What is Universal Basic Income (UBI)?
DEFINITION Universal basic income is a proposed government-guaranteed payment that each citizen receives. The purpose of the universal basic income…
What is the real unemployment rate?
The U-6 actual unemployment rate also includes the underemployed and the discouraged workers. The U-6 unemployment rate is usually higher than U-3, the…
Profit as the motive for capitalism
Profit is the remaining revenue after all costs have been paid. These costs include materials, labor, interest on loans,…
What are discouraged workers?
Discouraged workers are people who are willing to work and are available, but have left the workforce as they don’t…
What is compound interest?
Compound Interest is the interest that is earned on the original principal and accumulated interest. The Key Takeaways Compound…
What is a beneficiary?
DEFINITION A beneficiaryis a person or entity you name to receive your assets upon your death. Your assets will be…
What is Interest?
Interest represents the cost of borrowing. The lender gets interest and the borrower pays it. The Key Takeaways Interest is…