| Base year | the survey year used as a point of comparison in subsequent years
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| Consumer price index | a measure of price changes for a typical basket of consumer products
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| Cost of living | The amount consumers must spend on the entire range of goods and sevices they buy.
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| Cost-of-living adjustment clauses | provisions for income adjustments to accommodate changes in price levels, which are included in wage contracts
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| Cyclical unemployment | unemployment due to the ups and downs of economies and businesses
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| Deflation | a general decrease in the level of prices
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| Discouraged workers | unemployed workers who have given up looking for work
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| Fixed incomes | nominal incomes that remain fixed at some dollar amount regardless of the rate of inflation
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| Frictional unemployment | unemployment due to being temporarily between jobs or looking for a first job
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| Full employment | the highest reasonable expectation of employment for the economy as a whole
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| Fully indexed incomes | nominal incomes that automatically increase by the rate of inflation
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| GDP deflator | an indicator of price changes for all goods and services produced in the economy
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| Inflation premium | a percentage built into a nominal interest rate to anticipate the rate of inflation for the loan period
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| Item weights | the proportions of each good in the total cost of the basket of consumer goods used to calculate CPI
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| Labour force | all people who either have a job or are actively seeking employment
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| Labour force population | the population, with specific exclusions, from which Statistics Canada takes a random sample for the labour force survey
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| Natural unemployment rate | the unemployment rate that defines full employment
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| Nominal GDP | Gross Domestic Product expressed in current dollars
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| Nominal income | income expressed in current dollars
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| Nominal interest rate | the interest rate expressed in money terms
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| Partially indexed incomes | nominal incomes that increase by less than the rate of inflation
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| Participation rate | the percentage of the entire labour force population that makes up the labour force
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| Potential output | the real output, or Gross Domestic Product, associated with full employment
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| Real income | income expressed in constant base-year dollars
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| Real interest rate | the nominal interest rate minus the rate of inflation
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| Seasonal unemployment | unemployment due to the seasonal nature of some occupations and industries
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| Structural unemployment | unemployment due to a mismatch between people and jobs
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| Underemployment | the problem of workers being underutilized, either as part-time workers or by working at jobs not appropriate to their skills or education
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2002 McGraw-Hill Higher Education