PPT-Economic Fluctuations, Unemployment, and Inflation

Swings in the Economic Pendulum Instability in the Growth of Real GDP 19602015 Although real GDP in the United States has grown at an average rate of approximately 3 the growth has been characterized by economic upsanddowns. Swings in the. Economic Pendulum . Instability in the . Growth . of Real . GDP: 1960-2013. Although real GDP in the . United States has . grown at an average rate of approximately 3%, the growth has been characterized by economic ups-and-downs. . Macroeconomic Concepts. SSEMA1 . The student will illustrate the means by which economic activity is measured. . a. Explain that overall levels of income, employment, and prices are determined by the spending and production decisions of households, businesses, government, and net exports. . Has Consequences:. Reasons . and Ways for Young People to Participate in the . Decision-Making . Process at Home and EU. ”. Velingrad, Bulgaria. March 2012. This project has been funded with support from the Youth in Action Program of the European Commission, managed in Bulgaria by the National Centre “European Youth Programmes and Initiatives”. This publication reflects the views only of the author, and the Commission, the Youth in Action Program and the National Centre “European Youth Programmes and Initiatives” cannot be held responsible for any use which may be made of the information contained therein.. Economics. Unemployment. Economist’s definition:. Those of working age, who are without work, but who are available for work at current wage rates.. Two . measures . of unemployment.. Claimant . count. Chapter 21. McGraw-Hill/Irwin. Copyright © . 2015 . by . McGraw-Hill Education (Asia). . All rights reserved.. Learning Objectives. Identify the four phases of the business cycle and explain the primary characteristics of recessions and expansions. . Measuring the economy. Answer this question in at least 4 sentences:. How do you know if our economy is experiencing growth?. What do you know?. Can you define these terms?. Gross. Unemployment. Cyclical. &. Fluctuations. Section I. Business Cycles & Fluctuations. Business cycles . are largely systematic ups and downs of real GDP. Business fluctuations . is the rise and fall of real GDP over time in a nonsystematic manner.. Vocab. Inflation. Deflation. Price index. Consumer price index. Market basket. Base year. Creeping inflation. Hyperinflation. Stagflation. Demand-pull inflation. Cost-push inflation. Civilian labor force. Chapter 21. McGraw-Hill/Irwin. Copyright © . 2015 . by . McGraw-Hill Education (Asia). . All rights reserved.. Learning Objectives. Identify the four phases of the business cycle and explain the primary characteristics of recessions and expansions. Orange Group. This is chapter . 35. !!. The natural rate of unemployment depends on various features of the labor market.. Examples include minimum-wage laws, the market power of unions, the role of efficiency wages, and the effectiveness of job search.. 09. McGraw-Hill/Irwin. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.. The Business Cycle. Alternating increases and decreases in economic activity over time. Phases of the business cycle. 8. C H A P T E R. ECONOMIC GROWTH. An . increase in real GDP. over some time period. An . increase in real GDP per capita. over some time period. Growth as a Goal. Arithmetic of Growth. Rule of 70. PB 202 . MACROECONOMICS. Continuous Assessment . CA. Total. . Chapter. %. Quiz . Minimum. 3. Chapter. 1, 6, 7. 20. Test . Minimum 1. Chapter 1-4. 20. Tutorial . Minimum 2. Chapter 2&3. 20. Case study . Money and Inflation. Rise in money supply does not equal a rise in Real GDP in the long run, since price level rises as well by the same percentage. Classical Model of Price Level . – Since money supply and price level rise together, the Real Quantity of Money (M/P) stays at the original level.