Ch 43: MTEL Business: Unemployment & Inflation in Macroeconomics

About This Chapter

Learn about unemployment and inflation through this chapter of the MTEL Business study guide. Prepare for your exam with lessons and self-assessment quizzes that will familiarize you with the effects of unemployment and inflation on a macroeconomic scale.

MTEL Business: Unemployment and Inflation in Macroeconomics - Chapter Summary

Use this chapter and its lessons to understand macroeconomics, and discover how unemployment and inflation affect this area of business. The lessons cover the following topics to help you with related questions on the exam:

  • Measuring unemployment
  • Defining types of unemployment
  • Understanding causes and effects of inflation
  • Using the consumer price index
  • Recognizing effects of inflation on supply and demand
  • Using the Phillips Curve Model

Knowledgeable instructors thoroughly explain each topic, and you can revisit key points in the video lessons using the jump feature. Important terms are identified in the video transcript, and you can test your understanding of the lessons with quizzes, or print the quizzes as worksheets.

6 Lessons in Chapter 43: MTEL Business: Unemployment & Inflation in Macroeconomics
Test your knowledge with a 30-question chapter practice test
Defining and Measuring the Unemployment Rate

1. Defining and Measuring the Unemployment Rate

You've probably heard about the unemployment rate, especially given how high it was in the 2008 recession. Find out how economists define unemployment, what the unemployment rate is, and how to calculate it in this lesson.

Three Types of Unemployment: Cyclical, Frictional & Structural

2. Three Types of Unemployment: Cyclical, Frictional & Structural

If you've ever lost your job after the holiday season, you've experienced at least one type of unemployment. In this lesson, explore the three types of unemployment including cyclical, frictional, and structural using real-world examples.

Inflation: Definition, Types, Causes & Effects

3. Inflation: Definition, Types, Causes & Effects

In this lesson we will take a look at inflation and its importance. We will discuss the types and causes of inflation, as well as look at the effects of inflation.

Consumer Price Index: Measuring the Cost of Living and Inflation

4. Consumer Price Index: Measuring the Cost of Living and Inflation

In this lesson, you'll learn what the Consumer Price Index is and how it measures changes in the level of prices in an economy. You'll also learn about the important economic concepts of inflation and deflation. Why do prices always seem to be going up?

Effects of Inflation on Suppliers and Demanders

5. Effects of Inflation on Suppliers and Demanders

In this lesson, you'll discover who benefits and who suffers from a sustained increase in prices within an economy. We'll cover the effects of expected and unexpected inflation on savers/creditors and borrowers/debtors.

The Phillips Curve Model: Inflation and Unemployment

6. The Phillips Curve Model: Inflation and Unemployment

Can we have low unemployment and low inflation at the same time? Some economists think the answer is no. In this lesson, we'll explore the relationship between inflation and unemployment in the short run, what economists call the Phillips Curve.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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