Unemployment Rate and Misrepresentat Chapter 9, we see a topic called “Hidden Unemployment,” which introduces underemployed workers and discouraged workers; both are groups who would not be considered unemployed, but at the same time increase the unemployment rate. For this discussion, your task is to: 1. Produce an example that demonstrates a worker who is a part of hidden unemployment, or whose current employment status does not represent the state of the economy that is being portrayed by the unemployment rate. 2. Using the framework of the unemployment rate, contrast what is going on in the economy compared to what the numbers are telling us. 3. In reply to one of your peers’ posts, explain what you may be interested in looking at to get a more accurate depiction of the economy. This could be another measure mentioned in the chapter, or it could be a new measure that you make up, even if it would be hard to gather data for your measure. Hint: It may be helpful to visualize this using a very small economy, of say 10 people, and working off of that, rather than trying to imagine a real-world economy with millions of adults in the population. book link : https://openstax.org/books/principles-macroeconomics-3e/pages/preface Chapter 9 explores the confusion that we can see from inflation. These confusions include those we see in the text as well as those we see in discussions in the public arena. 1. Identify some confusion about inflation (within or outside the text) that you have seen come up. 2. Explain the source of that confusion and the misconceptions that come about from it. Hint: For the first task, make sure you pay particular attention to the difference between Cost-Push Inflation and Demand-Pull Inflation. I would also recommend that any discussion regarding the spike in inflation last year be well-documented and not a parroting of partisan talking points. Please be aware that I am going to be particularly critical in my feedback and grading to statements/posts that pontificate the narrative of biased sources such as Fox News.
