SS10.E.8

Social Studies (2010) Grade(s): 12 - Economics

Students know:

Students are able to:

Determine how certain factors impact wages and employment.
Determine specific impacts on economic growth of inflation and unemployment.
Use the Phillips curve to calculate trade-offs between inflation and unemployment.

Students understand that:

There are certain factors that affect labor productivity and wages.
There are certain factors that affect the supply of and demand for labor.
There are trade-offs between inflation and unemployment reflected on the Phillips curve.
Demographics and regional specialization, as well as productivity, affect wages and employment.
Non-market factors also impact wages.
Inflation and unemployment negatively impact economic growth.
Economic interdependence in Alabama impacts and is impacted by the national and global economies.