1. Go to the CIA Factbook to learn about unemployment and inflation in two countries, one beginning with the first letter of your first name, the other beginning with the first letter of your last name.
The information on unemployment is at; http (Links to an external site.)https://www.cia.gov/the-world-factbook/field/unemployment-rate/country-comparison (Links to an external site.)
The information on inflation is at: https://www.cia.gov/the-world-factbook/field/inflation-rate-consumer-prices/country-comparison (Links to an external site.)
Report the most recent unemployment rate. Then, go to the country descriptions,
pick your two countries at this page https://www.cia.gov/the-world-factbook/countries/ (Links to an external site.)
find and summarize in your own words at least one piece of information that might explain why the unemployment rate is low or high in each country
2 . Imagine that you are a friend asks if she is actually earning more because inflation has cut into her buying power.
What was her earnings in _______ (insert year) $ ____________
What is she earning now $ _______________ . (These will be your best estimates for what a friend earned previously and now.)
Use this website to convert these nominal earnings into real earnings: gov/cgi-bin/cpicalc.pl” rel=”noreferrer noopener” target=”_blank”>https://data.bls.gov/cgi-bin/cpicalc.pl (Links to an external site.)
Write a summary that summarizes what has happened to her earnings.r. Refer to the specific numbers that you used in reaching your conclusion.
3.. If a politician recommends lower cost community college as a solution to unemployment, what type of unemployment is she addressing? Why might this not be effective when there is cyclical unemployment?
If a politician recommends a national website listing jobs as a solution to unemployment, what type of unemployment is she addressing? Why might this not be effective when there is cyclical unemployment?
If a politician recommends more computer coding degrees as a solution to unemployment, what type of unemployment is she addressing? Why might this not be effective when there is cyclical unemployment?
4. Choose a concept you learned in this section of the course (on unemployment and inflation) that changed your thinking in an important manner. Then write a short essay (about three paragraphs or one page) beginning with one of the following prompts:
“Although most people believe….. in fact….”
or
“Although I believed ….. in fact”
In your essay explain why you or most people hold the faulty belief. That is what is logical about it–even if it is faulty. Then explain what is a better view. Finally, explain why this difference matters. For this last step it may be helpful to use an example that shows why holding the incorrect belief causes an important result.
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