AP Macro – 2/04/2020
I. Bellwork: Please, can someone brief the president on the unemployment rate?
- What statement did President Trump make about unemployment?
- Explain what the problem is with this statement.
II. Objectives
- Explain the 3 different types of unemployment and their causes
- Identify the factors that determine the natural rate of employment
III. Cause and Categories of Unemployment pages 129-137
A. The Natural Rate of Unemployment
- Job Creation and Job Destruction
- Frictional Unemployment
- Structural Unemployment
- Minimum Wages
- Unions
- Efficiency Wages
- Side Effects of Public Policy
4. The Natural Rate of Unemployment
5. Changes in the Natural Rate of Unemployment
- Changes in Labor Force Characteristics
- Changes in Labor Market Institutions
- Changes in Government Policies
IV. Videos/Notes
V. Classwork
- 13.3 & 13.1
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