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Ch 40: ORELA Business Education: Unemployment & Inflation

About This Chapter

Boost your knowledge of unemployment and inflation by exploring the fun lessons. You can gauge your comprehension of this subject area with short quizzes as you prepare to take the ORELA Business Education assessment.

ORELA Business Education: Unemployment & Inflation - Chapter Summary

Use this chapter to get reacquainted with unemployment and inflation concepts to make sure you're able to answer related questions on the ORELA Business Education assessment. In no time, you will have the knowledge to:

  • Define and measure the unemployment rate
  • Identify and describe three types of unemployment
  • Share the meaning, types, causes and effects of inflation
  • Describe how to measure the cost of living and inflation
  • Explain the effects of inflation on demanders and suppliers
  • Discuss the Phillips curve model as it relates to inflation and unemployment

Subject matter experts present the lessons in an engaging fashion that makes studying fun. Get the comprehensive overview of unemployment and inflation you need to boost your confidence as you prepare to take the assessment.

6 Lessons in Chapter 40: ORELA Business Education: Unemployment & Inflation
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.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the ORELA Business Education: Practice & Study Guide course

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