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  • Good morning class, we are going to learn about 3 economic goals. This will be easier than usual since we are in a recession. 
  • What are the 3 economic goals?
  • Growth, unemployment and inflation.
  • Growth is measured by the gross domestic product, or GDP. 
  • We have multiple types of unemployment. Frictional, Structural and Cyclical 
  • How do you measure inflation?
  • What is Frictional, Structural and Cyclical unemployment?
  • Frictional is when people quit, get fired, first time worker or they are seasonally unemployed. 
  • You measure inflation with Consumer Price Index. (CPI)
  • Structural is when people have different skill sets than what the economy is needing.
  • Cyclical is when people become unemployed due to the economy going into a trough.
  • Bell rings and class leaves Mrs. Adams room very confused...
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