Advanced Placement Macroeconomics studying national and global economic systems.
Economists watch unemployment and inflation closely to understand the health of an economy.
Often, low unemployment comes with higher inflation, and vice versa—a tradeoff known as the Phillips Curve.
Both affect people's daily lives: jobs determine income, and inflation affects what that income can buy.
If more people lose jobs during a recession, the unemployment rate rises.
When the price of groceries goes up each year, that's inflation in action.
Unemployment and inflation are vital indicators that show how well an economy is performing.