Unit 5 Review - 3rd Block by Katherine McCoy https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh Nominal GDP, Real GDP, Inflation, Unemployment en-us 2020-10-27 12:46:36 UTC 2025-11-10 17:02:15 UTC hello@padlet.com Inflation: katherinemccoy1 https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418051 Click on the Inflation link below. Read through the information, and answer the following questions by clicking the + sign below this post. Be sure to include your name as the title of your post. 
1. Explain what inflation is.
2. How do economists measure inflation? 
3. What are the two causes of inflation? Explain what each is.]]> 2020-10-27 12:46:36 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418051 Unemployment katherinemccoy1 https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418058 Watch the video below, then answer the following questions by clicking the + sign below this post. Be sure to include your name in the title of your post. 
1. List and describe each of the four types of unemployment.
2. Provide an example for each of the four types of unemployment.
3. Provide an example of a person who is NOT a part of the labor force and therefore would not be considered unemployed.]]> 2020-10-27 12:46:36 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418058 Nominal GDP vs. Real GDP: katherinemccoy1 https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418063 Watch the video below, then in detail, answer the following questions by clicking the + sign below this post. Be sure to include your name as the title of your post.
1. What is nominal GDP?
2.  What is Real GDP? 
3. Which GDP is a better measure of an economy's growth? Why?]]> 2020-10-27 12:46:36 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418063 What is GDP? katherinemccoy1 https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418067 Open and view the Infographic below, then answer the questions that follow by clicking the + sign below this post. Be sure to include your name as the title of your post.
1. What does GDP stand for?
2. What does GDP measure? What is its purpose?
3. What is the calculation to measure GDP? What does each letter stand for?
4. Are imports part of the calculations of a nation's GDP? How do imports impact a nation's GDP?
5. What types of goods/services are not counted in GDP?]]> 2020-10-27 12:46:36 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/865418067 Tori Sibley Gross Domestic Product 2021victoriasibley https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866376036 how well the economy is growing     and to see if it's growing gradually
C+I+G+(X-M) C= Consumer I=Investments G=Gov't  X=Exports M=Imports                                                 No, they can mess it up if counted because they are not made here.

Black market goods,stocks and bonds, and intermediate goods are not counted.]]> 2020-10-27 16:08:09 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866376036 Brayden Whidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866400542 1. GDP stands for Gross Domestic Product.
2. It measures the value of final goods and services produced in a country in a time period. The purpose is to show how well the economy is performing.
3. The calculation is C+I+G+NX where C stands for Consumption, I stands for Investment, G stands for Government Expenditures, and NX stands for net exports.
4. Imports aren't included because they are not produced in the country. It impacts a nation's GDP because they must be subtracted form exports in the calculation.
5. Goods and Services that aren't included are intermediate goods, previously used goods, pure financial transactions, and transfer payment.]]> 2020-10-27 16:12:45 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866400542 Maddox Whidden 2021maddoxwhidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866402654 1. Gross Domestic Product
2. The final value of all the final goods and services produced in a country in a given time. GDP shows how well an economy is doing.
3. C+I +G +NX=GDP
Consumption, Private Investment, Government Expenditures, Net Exports
4. no; They don't impact GDP because they aren't counted.
5. intermediate goods, previously used goods, purchases of stocks and bonds, social security benefits

]]> 2020-10-27 16:13:10 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866402654 Joshua Starr 2021joshuastarr https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866402841 1. Gross Domestic Product
2. The total value of all goods and services produced within a county's border in a given time period. It measures the economic growth of said country.
3. C + I + G + NX = GDP. C = Individual Consumption. I = Private Investments. G = Government Expenditures. NX = Net Exports
4. No because they come from outsider of a country's borders. They could give an inaccurate measure of the economic growth.
5. Payment transfers, Intermediate goods, Pure financial transactions, and Previously used goods.]]> 2020-10-27 16:13:12 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866402841 Trenton Corbitt 2021trentoncorbitt https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866402998 1) Gross Domestic Product 
2) The total value of all final goods and services produced in a country in a year
3) C+I+G+(X-M) 
C- Consumer
I- Investment
G- Gov't
X-  Exports
M- Imports
4) No they are not counted because they are not made in the country that imported them. It impacts the nations GDP because it is subtracted from the exports from a country.
5)Intermediate goods, previously used goods, pure financial transactions, and transfer payment]]> 2020-10-27 16:13:14 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866402998 Tori Sibley 2021victoriasibley https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866405315 Nominal GDP is GDP not fixed for inflation

Real GDP is the GDP fixed for inflation

Real because it makes the inflation rate equal so you can tell the growth better.k]]> 2020-10-27 16:13:35 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866405315 Kenzie Freeman 2021kenziefreeman https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866406202 1. Gross Domestic Product
2. Economic growth. The total value of all final goods and services produced within a country's borders in a given time period. 
3. C + I + G + (X-M)
4. No, imports are produced in a different country and do not count towards GDP. It affects GDP because imports are subtracted from exports to find the net exports.
5. Goods that aren't counted include: intermediate goods, previously used goods, pure financial transactions, and transfer payments.]]> 2020-10-27 16:13:46 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866406202 Rachael Alexander https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866406885 1. Gross Domestic Product
2. It measures the total value of all final goods and services produced within countries in a certain time period.
3. C +I +G +(X - M)
Consumption, Investment, Government, and Net Exports
4. No because imports are received from other countries and doesn't count towards GDP.
5. Intermediate goods, previously used goods, pure financial transactions, and transfer payments.]]> 2020-10-27 16:13:54 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866406885 Timmy Dao 2021timmydao https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866407048 1. Gross Domestic Product
2.It measure the currency value of final goods and services within a country in a period of time.
3.C(consumers)+ I(Investors)+ G(government)+ (m-x)(foreign) 
4.No, it impacts the nation GDP by net exports
5. Intermediate goods, used goods, underground production, finacial trans action, household, transfer payment]]> 2020-10-27 16:13:56 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866407048 Emily Anderson 2021emilyanderson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866407065 1)gross domestic product
2)The total value of all final goods and services produced within a countries borders in a given time period (measures economic growth).
3) C+I+G+NX=GDP
    C-personal consumption expenditures
    I-private investment
    G-government expenditures
    NX-net exports
4) No because they are produced in a different country. They are subtracted to find the net export.
5)intermediate goods,previously used goods, pure financial transactions, and transfer payment]]> 2020-10-27 16:13:56 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866407065 Lacey Hamilton 2021laceyhamilton https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866407976 1. Gross Domestic Product
2. The total value of all final goods and services produced within a country in a given time. Measures the economic growth of a country.
3. C+I+G(X-M). C is consumers, I is investment, G is government, X-M is net exports.
4.No, because imports are created in another country and do not count towards GDP.
5. Intermediate goods, Imports, Black Market goods and services.]]> 2020-10-27 16:14:07 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866407976 Kaylee Dickey 2021kayleedickey https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866409307 1. Gross Domestic Product
2. Total value of final goods produced in a certain time
3. C+I+G+(X-M), Consumer (C), Investment (I), Government (G), Exports (X), Imports (M)
4. No imports are subtracted from exports because imports aren't made within the country
5. Intermediate Goods, Used Goods, Stock, and Financial Services]]> 2020-10-27 16:14:23 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866409307 Tori Sibley 2021victoriasibley https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866413121 Inflation is a quantitative measure of the amount added to the value of money.
by putting the total market basket price of the target year over the total market basket price for the base year then times by 100 and turn into a percentage. 

Making more money so we have to much supply makes the value of money have to increase to keep up with the supply also known as the Demand-Pull Effect and rising prices which is when a price well rises.

]]> 2020-10-27 16:15:08 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866413121 Bridgett Meads 2021bridgettmeads https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866413519 1. Gross Domestic Product
2.  Measures the monetary value of final goods and services. It's important because it gives information about the size of the economy and how an economy is performing.
3. GDP = C+G+I+NX. C-Consumption, G- Government Spending, I-Investment, NX- Net Exports.
4. Yes. The money spent on imports leaves the economy, and that decreases the importing nation's GDP.
5. Intermediate goods, used goods, transfer payments, non-market activities, illegal goods.]]> 2020-10-27 16:15:13 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866413519 Maria Castanon https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866427332 1. Gross domestic product
2. Is the total value of all final goods and services produced in a country at a certain time. 
3. C+I+G+(X-M), Consumption expenditures, Investments, Government Expenditures, Net Exports.
4. No since they are not being produced in this country. 
5. intermediate goods, previously used goods, pure financial transactions, and transfer payments. ]]> 2020-10-27 16:18:01 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866427332 Tori Sibley 2021victoriasibley https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866433351 Frictional-unemployment caused by the natural frictions of the economy, a new college student with skills for a job.

Structural- unemployment caused by structural changes in the economy, NAPTA

Seasonal- unemployment due to a seasonal change, agriculturist job

Cyclical- unemployment due to contractions in the economy, business cycle 

A stay-at-home mom of 3 kids.


]]> 2020-10-27 16:19:11 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866433351 Andy Adkins https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866435635 1. Gross domestic product
2. Total value of all final goods produced
3. C+I+G+(X-M) Consumer, Investment, Government, Exports, Imports
4. No because they are not produced inside the USA
5. Black market, stocks and intermediate goods]]> 2020-10-27 16:19:38 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866435635 Brayden Whidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866444894 1. Nominal GDP measures value of a nation's output produced in a year,  expressed in the value of the prices charged for that year. It does not take into account inflation. 
2. Real GDP is the value of a nation's output in a particular year adjusted changes in the price level from a base year. It does take into account inflation. 
3. Real GDP is a better measure because it offers a more accurate measure of the quantity of goods and services a nation produces because it adjusts for price changes. ]]> 2020-10-27 16:21:27 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866444894 Kenzie Freeman 2021kenziefreeman https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866448368 1. Nominal GDP: Measures the value of a nation's output produced in a year, and doesn't take into account inflation.
2. Real GDP: is the value of a nation's output in a particular year, adjusted for inflation.
3. Real GDP. It offers a more accurate measurement of the actual quantity of goods through adjustment for inflation.]]> 2020-10-27 16:22:06 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866448368 Kaylee Dickey 2021kayleedickey https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866451637 1. Nominal GDP is the GDP calculation without adjustment to inflation
2. Real GDP is adjusted to inflation
3. Real GDP because it shows the growth of the economy in comparison to previous years]]> 2020-10-27 16:22:39 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866451637 Maddox Whidden 2021maddoxwhidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866452024 1. Nominal GDP is GDP not adjusted for inflation.
2. Real GDP is GDP after being adjusted for inflation.
3. Real GDP is a better measure of an economy's growth because it shows real growth throughout the years rather than just having a larger amount of money in circulation. ]]> 2020-10-27 16:22:42 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866452024 Lacey Hamilton 2021laceyhamilton https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866454262 1. measures the value of a nation's output produced in a year, expressed in the value of prices charged for that year. does not include inflation.
2. Real GDP measures the output of a country with price changes. Includes inflation
3.Real GDP because is includes the price change and gives a more accurate number of the GDP. ]]> 2020-10-27 16:23:10 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866454262 Timmy Dao 2021timmydao https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866458720 1. GDP without inflation added
2.Real GDP is inflation added to the price of the good from back then
3. Real GDP shows the growth of the economy better because it shows if the businesses are declining in money or increasing.]]> 2020-10-27 16:24:01 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866458720 Trenton Corbitt 2021trentoncorbitt https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866465776 1) Nominal GDP does not take into account the amount of inflation
2)Real GDP does take into account the amount of inflation for a countrys GDP
3) Real GDP because it takes into account the amount of inflation in a country.]]> 2020-10-27 16:25:23 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866465776 Kenzie Freeman 2021kenziefreeman https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866468015 1. Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2. Economists measure inflation using Consumer Price Index.
3. Causes of inflation: 
Demand-pull: When demand for goods/services exceeds production capacity.
Cost-push: When production costs increase prices
Built-in inflation: When prices rise, wages rise too, in order to maintain living costs.]]> 2020-10-27 16:25:50 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866468015 Lacey Hamilton 2021laceyhamilton https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866468777 1 a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.. 
2. Final CPI Index Value / Initial CPI Index Value
3. Demand-Pull effect: when the demand is higher than the production rate. Cost-Push Inflation: increase in the cost of the input process.

]]> 2020-10-27 16:25:59 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866468777 Kaylee Dickey 2021kayleedickey https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866469282 1. Inflation is the rise in the price of basket goods over a period of time
2. Consumer Price Index is used to measure the value of the average basket goods a household purchases
3. The demand-pull effect is where the demand for goods increases more rapidly than the producers can produce. The cost-push effect is where the price of production process inputs increases]]> 2020-10-27 16:26:05 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866469282 Maddox Whidden 2021maddoxwhidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866470598 1. Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods in an economy increases over time.
2. by recording the price of a market basket of goods over time
3. Demand-Pull Effect- when the overall demand for goods and services in an economy increases more rapidly than the economy's production capacity
Cost-Push Effect- a result of the increase in the prices of production process inputs ]]> 2020-10-27 16:26:21 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866470598 Rachael Alexander https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866471129 1. Nominal GDP measures the value of the nation's output produced in a year and doesn't include inflation.
2. Real GDP measures the output of a country with price changes and includes inflation.
3. Real GDP because it includes the price changes and gives a more accurate number of GDP.]]> 2020-10-27 16:26:28 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866471129 Emily Anderson 2021emilyanderson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866476718 1)Nominal GDP measures the value of a nation's output produced in a year, expressed in the value of the prices charged for that year and doesn't take into account inflation.
2)Real GDP is the value of a nation's output in a particular year adjusted for changes in price level from a base year.
3)Real GDP is more accurate bc it measures the actual quantity of goods and services a nation produces bc it adjusts for price changes. ]]> 2020-10-27 16:27:36 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866476718 Timmy Dao 2021timmydao https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866478313 1. Inflation is the general price level increasing over time.
2. Economist find inflation by This Years Price minus Base Years Price dividing all by Base Year Price times 100
3.Demand-pull -try to buy more than the economy can produce, which produce shortages, and merchant raises prices
Cost-Push: prices of inputs for manufacturing increase]]> 2020-10-27 16:27:54 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866478313 Brayden Whidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866481828 1.  Inflation is a measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2. Economists measure inflation using the Consumer Price Index which looks at the change in price of a basket of goods over time.
3. Two causes of inflation are demand-pull inflation and cost-push inflation. Demand-pull inflation is when the overall demand for goods and services in an economy increases more rapidly than the economy's production capacity. Cost-push inflation is caused by the increase in price of production process inputs.]]> 2020-10-27 16:28:34 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866481828 Brayden Whidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866482552 1. Frictional unemployment is due to the national frictions of the economy, or the worker is between jobs.
Structural unemployment is due to structural changes in the economy which eliminates jobs for some and creates jobs for others.
Seasonal unemployment is due to seasonal trends and can usually be predicted.
Cyclical unemployment is due to contractions in the economy. 
2. An example of frictional unemployment is a student who has graduated and looking for a job. An example of structural unemployment was NAFTA which moved blue collar workers to white collar jobs. An example of seasonal unemployment would be a person working as Santa Claus in the winter because they wouldn't have a job at other times of the year. An example of cyclical unemployment are times of recession such as the Great Depression. 
3. Someone who is not in the labor force is a stay-at-home mom or retired person.]]> 2020-10-27 16:28:43 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866482552 Bridgett Meads 2021bridgettmeads https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866482761 1. Nominal GDP measures the value of a nation's output produced in a year, expressed in the value of the prices changed for that year.
2. Real GDP is the value of the nation's output in a particular year adjusted for changes in the price level from a base year.
3. Real GDP]]> 2020-10-27 16:28:46 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866482761 Maria Castanon https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866485608 1. Nominal gap measures the value of a nation's output produced in a year, not including inflation.
2. The value of a nation's output in a particular year adjusted for changes in the price level from a base year. 
Real because it offers a more accurate measure of the actual quantity of goods and services produced. ]]> 2020-10-27 16:29:20 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866485608 Trenton Corbitt 2021trentoncorbitt https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866486934 1) Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2) The measure inflation with consumer price index (CPI).
3) Demand-pull inflation occurs when the overall demand for goods and services in an economy increases more rapidly than the economy's production capacity.
3) Cost-push inflation is a result of the increase in the prices of production process inputs]]> 2020-10-27 16:29:38 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866486934 Rachael Alexander https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866492674 1. a quantitative measure of the of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2. Consumer Price Index which records the change in prices over time.
3. Demand- pull which is when the demand overall increases 
Cost-push which increases the production prices to process inputs.]]> 2020-10-27 16:30:49 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866492674 Sam Bennett https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866496243 1. Gross domestic product
2.Measures the total value of all final goods and services produced within a countries borders. Used to measure one's economy.
3. C+I+G+NX where c is consumers, I is investment, G is government spending, and NX is net exports
4.Imports are subtracted from exports in calculating a GDP because they are not produced in the country.
5.Intermediate goods, imports, and black market.]]> 2020-10-27 16:31:33 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866496243 Maddox Whidden 2021maddoxwhidden https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866500623 1. frictional- due to natural frictions of the economy
structural- unemployment due to structural changes in the economy
seasonal- due to seasonal trends
cyclical- due to contractions in the economy
2. frictional- college grad interviewing for jobs
structural- NAFTA passing
seasonal- more workers needed in retail at Christmas time
cyclical- recession
3. stay-at-home mom]]> 2020-10-27 16:32:25 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866500623 Kaylee Dickey 2021kayleedickey https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866503950 1. 
Frictional - unemployment because the worker is between jobs
Structural - fundamental change in the operations of the economy that eliminate jobs and create others.
Cyclical - unemployment aligned to swings in the business cycle
Seasonal - unemployment resulting from change in seasonal trends
2. 
Frictional - Short term contract engineer that changes jobs every 6 to 8 months
Structural - Machines replace factory workers
Cyclical - Great Depression left many jobless
Seasonal - Lifeguard can only work in the summer.
3. A person who has deliberately stopped looking for a job because they are discouraged.]]> 2020-10-27 16:33:07 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866503950 Joshua Starr 2021joshuastarr https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866504433 1. Nominal GDP is the measure of a nations output produced in a year, expressed in the value of the prices charged for that year, but it doesn't include inflation.
2. Real GDP is the value of a nations output in a certain year adjusted for changes in the price level from a base year.
3. Real GDP is more accurate because it includes inflation.]]> 2020-10-27 16:33:13 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866504433 Kenzie Freeman 2021kenziefreeman https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866507636 Frictional: Unemployment due to the natural frictions of the economy. 
EX: Someone switching from one job to another.
Structural: Unemployment due to structural changes in the economy that eliminate some jobs and create others for which the unemployed are unqualified. 
EX: New technology that increases productivity in the workplace replaces an employee.
Seasonal: Unemployment due to seasonal trends. 
EX: A mall Santa loses his job after Christmas.
Cyclical: Unemployment due to contractions in the economy. 
EX: During the Great Depression, many lost their jobs.

EX: Someone who is under the age of 16. ]]> 2020-10-27 16:33:51 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866507636 Timmy Dao 2021timmydao https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866521446 1. Structural: fundamental change in the operation of the economy reduces demand for workers and their skills
Frictional: unemployment b/c worker is between jobs
Seasonal: unemployment resulting in changes in weather/demand for certain product
Cyclical:  unemployment aligned to swing in business cycle
2. Structural- Worker was let down because of new technology
Frictional- Person either chooses to go to work after school
Seasonal- Summer is over so there is no need for a lifeguard at a pool.
Cyclical- Pandemic closes all workforce.
3. Anyone under 16


]]> 2020-10-27 16:36:33 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866521446 Trenton Corbitt 2021trentoncorbitt https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866524102 1)  Frictional- Unemployment due to the natural frictions.
- Structural- Unemployment due to structural changes in the economy 
- Seasonal- Unemployment due to seasonal trends
- Cyclical- Unemployment due to contractions in the economy
2) Frictional-  A worker left their job to find a better one
- Structural- A workers skills was no longer needed because of new technology
- Seasonal- A mall Santa 
- Cyclical- Households equipment and motor vehicle tends to fall in periods of reduced economy
3) Someone that is under the age of 16.]]> 2020-10-27 16:37:06 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866524102 Lacey Hamilton 2021laceyhamilton https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866527303 1. Frictional: due to the natural frictions of the economy. Structural: due to structural changes in the economy that eliminate some jobs and create others. Seasonal: due to seasonal trends. Cyclical: due to contractions in the economy
2. Example of Frictional: short term contractor. Structural: New Technology. Seasonal: Jobs at haunted house Cyclical: Recession
3. A person who quit or was fired from a job, but does not want to find another form of work. ]]> 2020-10-27 16:37:47 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866527303 Rachael Alexander https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866529058 Frictional- when the worker is in between jobs, college grad interviewing for jobs
Structural- change in the economy which causes the worker to be unemployed, NAFTA passing
Seasonal- work needed seasonal and is unemployed for the rest of the seasons, no need for a lifeguard if it's winter time.
Cyclical- due to contractions in the economy, business cycle]]> 2020-10-27 16:38:10 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866529058 Sam Bennett https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866543330 1.Nominal GDP is measured by the country's output for that year, expressed in the value of the prices charged for that year.
2.Real GDP is adjusted for inflation.
3.Real GDP is a better measure of one's economy because it is more realistic and more specific.]]> 2020-10-27 16:41:02 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866543330 Joshua Starr 2021joshuastarr https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866544265 1. Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2. Economist use the Consumer Price Index (CPI) to measure inflation.
3. Demand-pull and cost-push cause inflation. Demand-pull inflation is inflation caused by a shortage (increase in demand). Cost-push inflation is inflation caused by increases in production cost.]]> 2020-10-27 16:41:12 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866544265 Emily Anderson 2021emilyanderson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866552876 1)Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2) CPI
3) Demand-pull:when the overall demand for goods and services in an economy increases more rapidly than the economy's production capacity
    Cost-push:a result of the increase in the prices of production process inputs]]> 2020-10-27 16:42:53 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866552876 Sam Bennett https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866564138 1.Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2.Economists use the consumer price index to find the rate of inflation. Change in Inflation = (Final CPI Index Value/Initial CPI Value)
3.Demand-pull inflation occurs when the overall demand for goods and services in an economy increases more rapidly than the economy's production capacity. Cost-push inflation is a result of the increase in the prices of production process inputs. ]]> 2020-10-27 16:45:09 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866564138 Maria Castanon https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866578328 1.  Is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2. Economists use CPI(consumer price index).
3. Demand pull occurs when the overall demand for goods and services in an economy increases more rapidly than the economy's production capacity.
Cost push is a result of the increase in the prices of production process inputs.]]> 2020-10-27 16:47:57 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866578328 Emily Anderson 2021emilyanderson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866585249 1)Frictional-due to the natural frictions of the economy
   Structural:due to structural changes in the economy that eliminate  some jobs and create others.
Seasonal:unemployment due to seasonal trends
Cyclical:due to contractions in the economy
2)Frictional-short term contractor
Structural: passage of NAFTA (lost blue collar jobs and gained white collar jobs)
  Seasonal:people who sell Christmas trees
  Cyclical: jobs lost during great depression
3)stay at home mother]]> 2020-10-27 16:49:19 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866585249 Joshua Starr 2021joshuastarr https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866597644 1. Frictional unemployment, Structural unemployment, Seasonal unemployment, Cyclical unemployment
2. Frictional - A newly graduated college student looking for a job
    Structural - New technology is invented and outdated the skills of an old worker.
    Seasonal - A Christmas tree seller.
    Cyclical - A worker from the great depression.
3, A citizen that is retired and enjoying their relaxing days.]]> 2020-10-27 16:51:50 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866597644 Sam Bennett https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866609641 1.Frictional- It is time spent between jobs when a worker is searching for a job or transferring from one job to another. 
Example- worker is looking for a different job because he/she quit the last one.
Structural-unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand.
Example- worker fired because he was replaced by a machine that could do his job better.
Seasonal-occurs as demands shift from one season to the next. 
Example- Man dresses as Santa clause for Christmas season.
Cyclical-  It would rise at a time of recession, while reduce when the economy starts recovering.
Example-great depression worker
2.Men and women in the military are technically not in the workforce so they can't be called unemployed.
]]> 2020-10-27 16:54:03 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866609641 Maria Castanon https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866630943 1. frictional unemployment- due to the national frictions of the economy 
, structural unemployment- due to the structural changes in the economy that eliminates some jobs and creates others for which the unemployed are qualified
, seasonal unemployment- seasonal due to seasonal trends
, cyclical unemployment- due to the contractions in the economy
2. Frictional- Full Time college student who starts interviewing for jobs, 
structural- new tech is invented and has outdated people and their ability to help. 
seasonal- Elf at a Christmas shop
cyclical- recession
3. a stay at home parent

]]> 2020-10-27 16:58:18 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/866630943 Jasmine Wilson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/867706539 1. Gross Domestic Product
2.total value of final g/s produced; measures the economy
3.C+I+G+NX
C-consumers
I-investments
G-government
NX- net exports
4.no because they aren't produced in the country
5.intermediate goods, black market, imports
 ]]> 2020-10-27 21:52:57 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/867706539 Jasmine Wilson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/867791095 1. nominal is not fixed for inflation
2. real is fixed for inflation
3.real because it gives a more accurate measure of the economy]]> 2020-10-27 22:43:33 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/867791095 Jasmine Wilson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/867879565 1.Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time.
2.Inflation is measured in a variety of ways depending upon the types of goods and services considered and is the opposite of deflation which indicates a general decline occurring in prices for goods and services when the inflation rate falls below 0%
3.Cost-push inflation is a result of the increase in the prices of production process inputs.Built-in inflation is the third cause that links to adaptive expectations. As the price of goods and services rises, labor expects and demands more costs/wages to maintain their cost of living.]]> 2020-10-27 23:39:28 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/867879565 Jasmine Wilson https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/868133575 1.Frictional unemployment occurs as a result of people voluntarily changing jobs within an economy.
Cyclical unemployment is the variation in the number of unemployed workers over the course of economic upturns and downturns. Structural unemployment comes about through technological change in the structure of the economy in which labor markets operate. Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers.
2.frictional-a person who left their job that is looking for a new one
cyclical-recession
structural-new tech
seasonal-mall santa
3.stay at home parents
]]> 2020-10-28 02:04:16 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/868133575 Travion Pope https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/869631774 GDP stands for Gross Domestic Product]]> 2020-10-28 13:55:27 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/869631774 Kate Lankford 2021kaytlinlankford https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870218354 GDP: gross domestic product
total value of final goods and services produced and measures the economy.]]> 2020-10-28 15:57:35 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870218354 Kate Lankford 2021kaytlinlankford https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870225881 Nominal GDP: is not fixed for inflation
Real GDP: is fixed for inflation
Real GDP is better because it gives a more accurate measurement of the economy.]]> 2020-10-28 15:59:10 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870225881 Kate Lankford 2021kaytlinlankford https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870232343 Inflation: is the general price level increasing over time
Inflation is measured by consumer price and price index.
Two causes of inflation: Demand-pull and Cost-push. Both are responsible for a general rise in prices in an economy.

]]> 2020-10-28 16:00:32 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870232343 Kate Lankford 2021kaytlinlankford https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870244303 4 types of unemployment:
Frictional- in between jobs
Cyclical-  recession happens and people lose their jobs
Structural- You're replaced by new technology
Seasonal- jobs hiring during Christmas for extra help]]> 2020-10-28 16:02:45 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/870244303 Sophia Cork https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946258998 1. Gross Domestic Product 
2. The total value of all final goods and services produced in a country in a year
3. C+I+G+(X-M)
C-Consumer
I- Investment 
G- Gov 
x- Exports 
M- Imports 
4. No they do not impact GDP because they are not counted.
5. Intermediate goods, previously used goods, purchases of stocks and bonds, social secuirty benefits.]]> 2020-11-20 17:29:59 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946258998 Sophia Cork https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946283766 1. Nominal GDP in measured by the countrys output for that year, expressed in the value of the prices charged for that year.
2. Real GDP is adjusted for inflation
3. Real GDP is a better measure of ones economy bc it is more realictis and more specific.]]> 2020-11-20 17:35:16 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946283766 Sophia Cork https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946296528 1. A quantitative measure of the rate at which the adverage price level of  basket of selected goods and services in an economy increasing over some period.
2. Final CPI index value/ Intial CPI index value 
3. Demand pull effect when the demand is higher that the production value. Cost Push inflation increases in the cost of the input process.]]> 2020-11-20 17:37:55 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946296528 Sophia Cork https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946312896 1. Frictional- in between jobs (moving, college, ect)
2. Structural- replaced with something better or faster usually technology.
3. Seasonal- only hires during certain seasons
4. Cyclical- Hires when the economy is good, fires when the economy is in a resecion.]]> 2020-11-20 17:41:22 UTC https://padlet.com/katherinemccoy1/z8noe1i7wk9q8onh/wish/946312896