0
Bellringer
1. Calculate the GDP per
capita for Travistan where
the GDP is $100 billion and
the population is 10 million
(....
Why Unemployment?
• You may be
unemployed
• Problem for
society
• Can cause
recessions
Think back to US history
• Why was the “Great Depression” so bad?
• How did the government try to fix it?
Economic Event’s Name?
Effect on GDP?
Unemployment’s effect on GDP
•GDP = C + I + G+ (ExportsImports)
• Lower Consumer Spending
• Lower investments, causes lowe...
Labor Force
• All 16 years and older who can work
• “LF”
Not included in Labor Force
•
•
•
•
•
•
•
•

Children
Fulltime Students
Military
Physically Disabled
Mentally Disabled
Pri...
Unemployment Rate Calculation
• Simple calculation
• # unemployed in labor force
• # in labor force

100

Always a %
Highe...
USA Unemployment

Probability of unemployment
Arizona’s Unemployment Rate
Source: US BLS
GDP Assignment formula
Draw a picture of each of the 4 parts of the GDP

1.
2. Which part of the GDP formula is the larges...
Unemployment rates 2014
Unemployment rates 2014
Unemployment rates 2014
Unemployment rates 2014
Unemployment rates 2014
Unemployment rates 2014
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Unemployment rates 2014

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Transcript of "Unemployment rates 2014"

  1. 1. Bellringer 1. Calculate the GDP per capita for Travistan where the GDP is $100 billion and the population is 10 million (.01 billion) 2. If the Mexico’s GDP per capita of $13,360, is Travistan richer or poorer? 3. Do an OPTIC for the graph on the right >>>>>>>>>>>
  2. 2. Why Unemployment? • You may be unemployed • Problem for society • Can cause recessions
  3. 3. Think back to US history • Why was the “Great Depression” so bad? • How did the government try to fix it?
  4. 4. Economic Event’s Name? Effect on GDP?
  5. 5. Unemployment’s effect on GDP •GDP = C + I + G+ (ExportsImports) • Lower Consumer Spending • Lower investments, causes lower capital for new businesses • Lower Exports • Lower Imports • Lower Government spending because lower tax revenues
  6. 6. Labor Force • All 16 years and older who can work • “LF”
  7. 7. Not included in Labor Force • • • • • • • • Children Fulltime Students Military Physically Disabled Mentally Disabled Prisoners (over 2 million right now!) Discouraged Workers Retirees
  8. 8. Unemployment Rate Calculation • Simple calculation • # unemployed in labor force • # in labor force 100 Always a % Higher the % the worse it is for the country
  9. 9. USA Unemployment Probability of unemployment
  10. 10. Arizona’s Unemployment Rate
  11. 11. Source: US BLS
  12. 12. GDP Assignment formula Draw a picture of each of the 4 parts of the GDP 1. 2. Which part of the GDP formula is the largest? (It’s the part you are the most involved in) 3. How many recessions has Argentina had since 1900? 4. When was their worst one? 5. Why are recessions good for selling inferior goods? 6. Calculate US GDP 2010 Consumers: $12 trillion Investment: $1.45 trillion Government: $2 trillion Exports: $1 trillion Imports: $2.05 trillion 7. Describe US Trade (net….?)
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