Macro_2.2-_Unemployment.ppt - Unit 2: Unemployment...

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Unit 2:Unemployment1CopyrightACDC Leadership 2015
Identify the parts of the business cycle 1-7#5#6#72TimeRealGDP#3The Business Cycle Quiz#4#1#2Real GDPCopyrightACDC Leadership 2015
The national economy goes up and down like a rollercoaster over timeA recessionis 6 month period of decline in Real GDP.(If really bad…then depression)InflationUnemploymentFullEmployment3TimeRealGDPRecession(Contraction)The Business CycleRecovery(Expansion)PeakTroughReal GDPCopyrightACDC Leadership 2015
Goal:Zero % Unemployment?4CopyrightACDC Leadership 2015
Goal:Limit Unemployment5CopyrightACDC Leadership 2015
What is Unemployment?
Who is in the Labor Force?Above 16 years oldAble and willing to workNot institutionalized (in jails or hospitals)Not in military, in school full time, or retiredWhy is a stay at home mom not unemployed?Unemploymentrate# unemployed# in labor forcex100=6CopyrightACDC Leadership 2015
2008 Audit Exam
Three Types ofUnemployment8CopyrightACDC Leadership 2015
3 Types of Unemployment#1. Frictional UnemploymentFrictional unemployment- Temporaryunemployment or being between jobsIndividuals are qualified workers withtransferable skills.

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Term
Spring
Professor
Petry
Tags
Macroeconomics, Unemployment, ACDC Leadership

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