1. (YOU NEED TO KNOW THESE)
Macroeconomics
Macro has 3 specific goals
(YOU NEED TO KNOW THESE)
Stable prices
Low unemployment
Economic growth
Ex- FDR targeted reducing unemployment through WPA (Works Progress Administraition) by providing construction jobs and rebuilding infastructure.
Ex- Reagan targeted economic growth by reducing taxes on businesses thus allowing them to expand.

2. The Labor Force
(in the U.S.) the body of people who are at least 14 years old and are either employed or available for employment.

3. Unpacking Unemployment
-People who do not have a job and have actively looked for work in the past four weeks, and are currently available for work.

4. Unpacking Unemployment
Four types of unemployment
Cyclical
Structural
Frictional
Seasonal

5. Unpacking Unemployment
Four types of unemployment
Cyclical- workers losing their
jobs due to business cycle. (fluctuations in output)
ex-the normal up and down movements in the economy as it cycles through booms and recessions over time.

6. Unpacking Unemployment
Four types of unemployment
Structural- unemployment arising from technical change such as automation, or from changes in the composition of output due to demand.
ex- a decline in the demand for typewriters would lead to structurally unemployed workers in the typewriter industry.

7. Unpacking Unemployment
Four types of unemployment
Frictional- the unemployment that occurs because of people moving or changing occupations.
An important distinguishing feature of this type of unemployment, unlike the other two it is voluntary on the part of the worker.

8. Unpacking Unemployment
Four types of unemployment
4. Seasonal- unemployment that occurs as a result of a change in season.
Migrant farm workers, Lawn-care Services,
Snow Removal Services etc.

9. Macroeconomics Macro has 3 specific goals _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _
Ex- FDR targeted ________________ __________________through WPA (Works Progress Administraition) by providing construction jobs and rebuilding infastructure.
Ex- Reagan targeted ________________ ________________ by reducing taxes on businesses thus allowing them to expand.

10. Unpacking Unemployment
Four types of unemployment
_ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _

11. Types of unemployment Cyclical ___ Structural ___ Frictional ___
Is voluntary as the result of changing occupations or quitting a job.
Is due to technological changes or changes in demand.
Loss of a job due to the economy or fluctuations in output

12. Types of unemployment Cyclical _C_ Structural _B_ Frictional _A_
Is voluntary as the result of changing occupations or quitting a job.
Is due to technological changes or changes in demand.
Loss of a job due to the economy or fluctuations in output