Social Sciences and History / Unit 15 SSH 1412 short lesson, about 20 seconds
Growth, Unemployment, Inflation on One Chart
Captions available
The idea
In the model cyclical unemployment is large when equilibrium sits well below potential GDP and small near it; the natural rate is built into potential GDP. Inflation pressure appears when a move between equilibria raises the price level. Trade enters through exports in AD and imported inputs in AS.
In practice
Three macro goals, one diagram.
Where people slip
The anchor's key model.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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