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Topic: Unemployment 

Economics

 Standard 5.  Understands unemployment, income, and income distribution in a market economy
  Level II (Grade 3-5)
   Benchmark 1.Knows that unemployed people are those who are willing and able to work at current wage rates, but do not have jobs
    Knowledge/skill statements
     1.Knows that unemployed people are willing to work at current wage rates
     2.Knows that unemployed people are able to work at current wage rates
     3.Knows that unemployed people do not have jobs
  Level III (Grade 6-8)
   Benchmark 3.Knows that the government defines "the labor force" as people at least 16 years old who either have a job or are actively looking for work
    Knowledge/skill statements
     1.Knows that the government has official definitions of certain words and phrases
     2.Knows the government definition of "the labor force"
   Benchmark 4.Understands that the unemployment rate (i.e., the percentage of the labor force considered to be unemployed) rises during a recession, and the economy's production is less than its potential level
    Knowledge/skill statements
     1.Knows what the unemployment rate is
     2.Knows how the unemployment rate is measured
     3.Understands how the size of the labor force is related to the unemployment rate
     4.Understands how recession affects the unemployment rate
     5.Understands how recession affects the economy‚Äôs potential level of production
  Level IV (Grade 9-12)
   Benchmark 6.Understands that the standard measure of the unemployment rate is flawed (e.g., it does not include discouraged workers, it does not weigh part-time and full-time employment differently, it does not account for differences in the intensity with which people look for jobs)
    Knowledge/skill statements
     1.Knows that one example of a flaw in the standard measure of the unemployment rate is that it does not include discouraged workers
     2.Knows that one example of a flaw in the standard measure of the unemployment rate is that it does not weigh part-time and full-time employment differently
     3.Knows that one example of a flaw in the standard measure of the unemployment rate is that it does not account for differences in the intensity with which people look for jobs
     4.Knows what the standard measure of the unemployment rate is
   Benchmark 7.Understands that many factors contribute to differing unemployment rates for various regions and groups (e.g., regional economic differences; differences in labor force immobility; differences in ages, races, sexes, work experiences, training and skills; discrimination)
    Knowledge/skill statements
     1.Knows factors that contribute to differences in unemployment rates for various regions
     2.Knows factors that contribute to differences in unemployment rates for various groups
     3.Knows that regional economic differences are an example of factors that contribute to differing unemployment rates for various regions and groups
     4.Knows that differences in labor force mobility are an example of factors that contribute to differing unemployment rates for various regions and groups
     5.Knows that differences in age are an example of factors that contribute to differing unemployment rates for various regions and groups
     6.Knows that differences in the number of men and women are an example of factors that contribute to differing unemployment rates for various regions and groups
     7.Knows that differences in work experiences are an example of factors that contribute to differing unemployment rates for various regions and groups
     8.Knows that differences in training and skills are an example of factors that contribute to differing unemployment rates for various regions and groups
     9.Knows that differences in discrimination are an example of factors that contribute to differing unemployment rates for various regions and groups
   Benchmark 8.Knows that economists do not define full employment as 100 percent employment of the labor force because there is always some unavoidable unemployment due to people changing jobs (i.e., frictional unemployment) or entering the labor force for the first time
    Knowledge/skill statements
     1.Knows that economists do not define full employment as 100 percent employment of the labor force
     2.Knows that there is always some unavoidable unemployment due to people changing jobs
     3.Knows the meaning of "frictional employment"
     4.Knows that there is always some unavoidable unemployment due to people entering the labor force for the first time
     5.Knows the meaning of "full employment"
   Benchmark 9.Understands frictional, seasonal, structural, and cyclical unemployment and that different policies may be required to reduce each
    Knowledge/skill statements
     1.Understands frictional unemployment
     2.Understands seasonal unemployment
     3.Understands structural unemployment
     4.Understands cyclical unemployment
     5.Understands that different policies may be required to reduce different types of unemployment
 Standard 9.  Understands how Gross Domestic Product and inflation and deflation provide indications of the state of the economy
  Level IV (Grade 9-12)
   Benchmark 8.Understands that government policies designed to reduce unemployment (e.g., increasing federal spending, reducing taxes) may increase inflation, and vice versa
    Knowledge/skill statements
     1.Understands how government policies designed to reduce unemployment affect inflation
     3.Knows that increasing federal spending is an example of a government policy designed to reduce unemployment
     4.Knows that reducing taxes is an example of a government policy designed to reduce unemployment