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Ch 72: Understanding Unemployment - ORELA Middle Grades Social Science

About This Chapter

This chapter is filled with refresher lessons on unemployment and related concepts to help prepare you to answer some of the questions on your ORELA Middle Grades Social Science exam.

Understanding Unemployment - ORELA Middle Grades Social Science - Chapter Summary

This chapter will help you prepare for the ORELA Middle Grades Social Science exam in numerous ways. You can review the different types of unemployment by watching an interactive 5-10 minute video lesson. You may also check to see how much expectations can influence the economy by answering short quizzes at the end of the lessons. Additionally, when you are finished with this chapter, you will have memorized the following items:

  • Definition of unemployment and natural unemployment rate
  • Reasons for the decreases in unemployment rate
  • Types of unemployment
  • Ways that expectations and minimum wage influence the economy

You can easily skip ahead to different topics in the video lessons by using the timelines. You can also watch the parts of the videos that provide the explanations for the correct answers of your quiz questions. Your progress is automatically tracked as you move through the lessons. Contact our instructors or experts if you have any questions.

Understanding Unemployment - ORELA Middle Grades Social Science - Chapter Objectives

The part of the ORELA Middle Grades Social Science exam that is related to this chapter is the Economics portion. It is equal to 12% of the total test and contains 150 multiple-choice questions. You can expect to see computerized questions that check your understanding of the reasons and impact of unemployment.

6 Lessons in Chapter 72: Understanding Unemployment - ORELA Middle Grades Social Science
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.

Why the Unemployment Rate Decreases and Increases

2. Why the Unemployment Rate Decreases and Increases

Policymakers, investors, and consumers watch the monthly unemployment rate with great interest. In this lesson, you'll learn what factors influence the unemployment rate and why the rate can change rapidly from month to month.

Three Types of Unemployment: Cyclical, Frictional & Structural

3. 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.

Natural Rate of Unemployment: Definition and Formula

4. Natural Rate of Unemployment: Definition and Formula

Explore the natural level of employment through the eyes of the Classical School and Keynesian economics, including fiscal policies that may reduce it.

Rational Expectations in the Economy and Unemployment

5. Rational Expectations in the Economy and Unemployment

This lesson provides an overview of the theory of rational expectations and then applies it to the labor market, fiscal policy and monetary policy. In the lesson, you'll learn more about expectations and outcomes in a world where people want to maximize profit.

Minimum Wage and its Effects on Employment

6. Minimum Wage and its Effects on Employment

There are times when the labor market is perfectly balanced between what employers are willing to pay and what workers want in a job. In this lesson, find out what happens to the labor market when governments intervene, imposing a minimum wage.

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Other Chapters

Other chapters within the ORELA Middle Grades Social Science: Practice & Study Guide course

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