Econ Farm

Econ Farm

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  • Well guys, this might be my last time going out to eat for a while, I recently lost my job and with prices so high, I can't afford to eat out.
  • I can't believe that the unemployment rate is up to 10%, that's a major increase from the natural rate of unemployment.
  • Yeah, I can't believe that the cost of a cheeseburger is now $8, the inflation rate has really increased.
  • Since I became cyclically unemployed, I better find a new job soon so I can feed my family.
  • It looks like we are headed into another recession, prices are rising like crazy. 
  • We can thank cost-push inflation for that. With the higher production costs, companies have to charge more for products.
  • Well I better watch my job, if companies keep switching to technology, I'll be structurally unemployed before I know it.
  • I'm not getting the number of hours that I want at my job, I've been underemployed here recently. But the company doesn't have any more hours to give me because everyone else wants more hours too.
  • The next day...
  • Greg, I'm very sorry, but you are getting laid off. We have computers and new technology that we can use that's cheaper than paying your salary, so we are getting rid of you.
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