After reading this chapter, you should be able to

10.1 List and describe the three major economic goals.

10.2 Define the unemployment rate and the labor force participation rate and understand how they are computed.

10.3 Identify and discuss the different types of unemployment.

10.4 Describe the different reasons for unemployment.

10.5 Explain how we measure the inflation rate and why inflation is a problem.

10.6 Explain and discuss economic fluctuations.