Chapter 13 Review Economic Instability.

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Presentation transcript:

Chapter 13 Review Economic Instability

Concepts Types of unemployment Identify Define Examples Measuring Sources of What is meant by being ‘underemployed’?

Sources of Unemployment Pg. 377

Concepts PPI LEI’s Reading tables/Comparisons What do they measure? What do they tell us?

Index of Leading Economic Indicators Pg. 358

Concepts Inflation Implicit GDP price deflator Misery index Measuring Identifying types Consequences of Implicit GDP price deflator Misery index Defining/Examples

Measuring Prices and Inflation Pg. 363

Types of Inflation and Their Consequences Pg. 377

Concepts Business cycles CPI Identifying Characteristics Causes of Reading tables Comparisons

Phases of the Business Cycle Pg 354

Constructing the CPI Pg. 362

Essays Identify, describe and give examples of the causes the Great Depression.

Essays Describe what is meant by the “base year”. Be able to determine if the base market basket cost increased, decreased, or stayed constant between the Base Period and the Third Period? Identify and describe the reason for this change?

Essays Be able to identify and describe the four causes of the business cycle. Are business cycles a cause or effect of changes in the economy? How do you know?

Essays Identify and describe the four causes of inflation. Be able to give and explain examples of this.

Homework Review Questions Page 378 – 379 21, 29, 30, 34, 36