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12.4.2: Describe the current economic and labor market. Describe the economic and labor market from 6
months ago. What is the difference? What happened? Name three top products produced by the U. S..
What types of skills do workers need? What effect has rapid technological change had on workers and their
skills? What is the impact on the U. S. of technological competition?
12.4.3: What jobs and professions are in demand? (3) What are their wages/salaries?
12.4.4 OMIT
12.5 E: What is the difference between nominal and real data?
12.5.1: What is the importance of an unemployment rate? What is the importance of the number of new jobs
created to the economy? In the world of economics, what are the definitions of inflation and deflation?
12.5.2: What is the current unemployment rate? What was it 6 months ago? Why is there a difference? What
is the current number of new jobs created? What was it 6 months ago? Why is there a difference? What is
the current inflation or deflation rate? What was it 6 months ago? Why is there a difference? What is the
current rate of economic growth? What was it 6 months ago? Why is there a difference?
12.5.3: What is the difference between long term and short term interest rates?