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Presentation transcript:

Instructions for using this template. Remember this is Jeopardy, so where I have written “Answer” this is the prompt the students will see, and where I have “Question” should be the student’s response. To enter your questions and answers, click once on the text on the slide, then highlight and just type over what’s there to replace it. If you hit Delete or Backspace, it sometimes makes the text box disappear. When clicking on the slide to move to the next appropriate slide, be sure you see the hand, not the arrow. (If you put your cursor over a text box, it will be an arrow and WILL NOT take you to the right location.)

Choose a category. You will be given the answer. You must give the correct question. Click to begin. Macro: Unemployment/Inflation/Poverty

Click here for Final Jeopardy

Get a Job Measuring Unemployment Inflation Effects of Inflation Poverty 10 Point 20 Points 30 Points 40 Points 50 Points 10 Point 20 Points 30 Points 40 Points 50 Points 30 Points 40 Points 50 Points Pay the Price

Taking time looking for the right job; making a career change; a retiree returning to the work force

What is Frictional Unemployment

A college student working in the summer who leaves her job to return to school in the Fall

What is Seasonal Unemployment

7.9% in October 2012

What is the United States National Unemployment Rate

Business cycle movement affecting industries where employees are laid off

What is cyclical unemployment

Development of new technology, discovery of new resources, changes in consumer demand, globalization, & lack of education

What are the 5 major causes of structural unemployment

This is an official count of the population & is used in calculating unemployment; the big one happens every 10 years

What is the US Census

Unemployment Rate

What is the percentage of the nation’s labor force that is unemployed

# of people unemployed ____________________________________ by the # of people in the civilian labor force x 100

What is the formula to calculate the unemployment rate

Full Employment; leave the business cycle out of it

What is employment level attained when cyclical unemployment ceases to exist

An PhD working at a carwash; a C.P.A. working part-time; a college graduate working for a landscape company

What are examples of Underemployment

The ability to purchase goods and services; what money CAN buy

What is Purchasing Power

This produces an average that can be compared to earlier averages to see the rate prices have changed over time

What is consumer price index

Consumer Price Index

A price index that is determined by measuring the price of a standard group of goods that represent the typical goods of the urban consumer

Inflation Rate

What is the % rate of change in a price level over time

CPI Year 1 – CPI Year 2 _______________________ CPI Year 2 X 100

What is the formula for calculating the Inflation rate

The rate of Inflation excluding the effects of food and energy prices; this is also at the center of an apple

What is core inflation rate

Hyperinflation

What is Inflation out of control where $$$ loses value & can lead to total economic collapse

Too much $$$ floating around in the economy

What is the quantity theory; a cause of inflation

Another cause of inflation: Demand Pull Theory; I WANT THAT NOW!

What is when demand for goods and services exceed supply

Producers costs increase; higher cost for crude leads to higher prices at the pump

What is the Cost – Push Theory of Inflation

Getting less with the same amount of money; $50 worth of groceries is not what it used to be

What is a decline in purchasing power

Rising wages lead to more demand, more demand leads to higher prices and & so on

What is inflation

Inflation hits people on this the hardest because it doesn’t change to match rising prices

What is a fixed income

Inflation rates are higher than your bank’s interest rate on your savings account

What is the decrease in purchasing power of your savings & you lose $ value

2.2% in October 2012

What is the current inflation rate

Poverty Threshold

What is the income level below which income is insufficient to support a family or household

% of people who live in households with income below the official poverty line

What is the poverty rate

Income Distribution

What is how a nation’s total income is distributed among its population

 Lack of education,  inner city residents,  race & gender,  downward shifts in the economy,  decline of the family

What are some causes of poverty

This is the single biggest thing that can reduce poverty

What is education

Make your wager

Final Answer The State of Georgia has a population of 9,687,653. 5,000,000 are not eligible to be counted because they are retired, in the military or are children. The amount of people without a job is 487,471.What is the unemployment rate?

What is 10.3%