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Learn who counts as unemployed and how to calculate the unemployment rate. The unemployment rate is the percentage of the labor force who doesn't have a job, but is actively looking for one.
Survey the three types of unemployment:
Frictional Unemployment
Structural Unemployment
Cyclical Unemployment
Inflation is always and everywhere a monetary phenomenon. But I bet you didn't realize gold prospectors got rich by causing inflation, not by producing something of value.
The CPI is the most common measure of the price level and is widely used to compute the inflation rate from year-to-year.
The business cycle is why we study macroeconomics. The ups-and-downs of the economy can have devastating consequences, and if we can avoid, we will do ourselves and everyone that comes after us a service.
Answer each question on a piece of paper. Then watch the solution video. Trust me, I make the answer look easy. If you don't try it first, you won't build up your mechanism for answering Assessment questions.