Transcript Unemployment and Inflation Webquest

Warm-up
Get out your notes and title them,
“Inflation and Unemployment
Webquest”
A. What is the formula for GDP, and
which is the biggest part of that
formula?
Then go to my website or Edmodo and B. What cycle would be described this
download today’s PowerPoint.
way:
Then do the Warm-up questions.
◦ rising unemployment, a decrease in
investment, and consumers beginning to
lose confidence.
C. What type of GDP would take into
account inflation and population?
Unemployment and
Inflation Webquest
Rules
Each slide has an objective.
DO NOT leave that slide until you have accomplished the objective.
Click on the hyperlinks and read the articles that have to do with the objective.
Some articles contain information that may not be useful, so feel free to only read
the important things in each article.
If everyone in your group doesn’t understand the objective and all of the
questions being asked, DO NOT move on.
If you cannot explain it to them, or you are all confused, I’ll be happy to help.
However, you cannot just give up on that person learning this.
You have plenty of time to do this, and it will be a good group experience if you
put some effort into it.
Different Types of Unemployment E.5.7
Objective: Be able to define and differentiate the difference between the
four types of unemployment.
Cyclical, Structural, Frictional, and Seasonal Unemployment
additional resources
1. Which type of unemployment is normal in an economy?
2. Which type of unemployment describes someone who just graduated
and is looking for the best possible job?
3. Give an example of someone who is unemployed due to Cyclical
Unemployment.
4. Which type of unemployment has to do with offshoring or innovation?
5. Explain how the answer to #4 can be a sign of a good thing in the
economy.
6. What type of unemployment is it when you don’t have the skills to be
employed?
Full Unemployment E.5.8
Objective: Understand what unemployment
rate means, and what is a healthy
unemployment rate.
Unemployment Rate
7. What is the full unemployment rate
according to that page?
8. Why is it not 0%?
Underemployment E.5.8
Objective: Know what underemployment is
and why people are underemployed.
Underemployment
9. Give an example of someone who is
underemployed.
10. Why would a person be underemployed?
11. Is underemployment a good indicator or a
bad indicator in an economy? Why?
Inflation E.5.8
Objective: Understand what inflation is and
how it can hurt people financially.
Inflation
12. As inflation goes up, what happens to your
ability to buy things with a dollar (aka
purchasing power)?
13. Who controls inflation?
Causes and Effects of Inflation E.5.4 E.5.5
E.5.8
Objective: Understand how demand-pull and
cost-push can cause inflation. Understand how
inflation hurts people with fixed incomes.
Demand-pull and cost-push inflation
14. Which theory of inflation is best described as
people wanting more than that which is being
produced?
15. What theory of inflation would result from an
increase in wages?
16. Describe how an increase in wages of a
fertilizer company could cause inflation.
17. What type of inflation is a result of an
increase in aggregate demand?
Measuring Inflation E.5.1
Objective: Understand how we measure
inflation.
(Use the same site that was used for the last
slide, but click on the page titled “How is it
measured?”) The conclusion page of this site
may also be helpful.
18. Who measures inflation?
19. Prices of the __________ ________ are
what they use to measure it.
20. The _ _ _ is a tool that measures how
much consumers are paying for certain things.