Macro Learning Objectives for questions over Exam 1 Form A

 

PCM

 ECON 2301 MACROECONOMICS   

Chapter 6

Below you will find the learning objective, concept, idea, term, or theory that each question on the exam will cover. The numbers in the list refer to the question number on Exam 2 that will test your knowledge of that specific learning objective. Each of these topics/learning objectives is discussed in the textbook in the order that they are listed below.  A much better understanding can often be attained by working through the "active graphs" and "smart graphs" connected to many of these objectives in the online material.

 
    After reading Chapter 6, you should be able to:
  1. Identify who is part of the labor force and who is no while paying particular attention to what it takes to be counted as employed, unemployed, or not in the labor force. (Section 6.1)
  2. Explain how the unemployment rate is calculated. (Section 6.1)
  3.  Calculate the labor force participation rate and determine from the same statistics how many people are employed, unemployed, and not in the labor force. (Section 6.1)
  4. Define what is meant by the terms underemployed, discouraged worker, and underground economy, and explain how these affect the unemployment rate. (Section 6.1)
  5. Discuss labor statistics as they relate to the following topics: economic history, international comparisons, duration of unemployment,  and the differences in them between females/males, blacks/whites, female/male head of households, and young/middle aged/old. (Section 6.1)
  6. Explain the following classifications of the unemployed: seasonal, frictional, structural, and cyclical. (Section 6.2)
  7. (Same as #6 above) (Section 6.2)
  8. Describe the natural rate of unemployment and its converse, full employment. (Section 6.3)
  9. Identify programs that make up the "social safety net" in the US, and explain the impact they have on the natural rate of unemployment. (Section 6.3)
  10. Discuss how well intentioned governmental regulations can have adverse effects not only on employer costs but also on the quality of employment and hiring decisions. (Section 6.4)