Presents an understanding of how the headline unemployment rate (U-3) is calculated. [Economics playlist: Lesson 10 of 20]
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.
By the end of this section, you will be able to:
Contrast expansionary monetary policy and contractionary monetary policy
Explain how monetary policy impacts interest rates and aggregate demand
Evaluate Federal Reserve decisions over the last forty years
Explain the significance of quantitative easing (QE)
By the end of this section, you will be able to:
Calculate the labor force participation rate and the unemployment rate
Explain hidden unemployment and what it means to be in or out of the labor force
Evaluate the collection and interpretation of unemployment data
