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The COVID-19 pandemic induced an economic recession that started in February 2020 and ended in April 2020.
The storytelling purpose of a particular data visualization dictates the choice of units. Changing the units of the data helps tell the story behind the numbers.
Some data experience seasonality: that is, recurring ups and downs through the seasons.
Adjusting monetary values for the general and sustained upward movement of prices for goods and services in an economy helps visualize trends and cycles in data.
The Consumer Price Index (CPI) measures the cost of living and the growth in the CPI is called inflation.
In this interactive lesson, students learn to use several FRED features that are key for understanding and visualizing data: formatting graphs and customizing the data units.
The Mississippi Personal Finance Curriculum is designed as a high school personal finance course. It is divided into seven units that address the six National Standards for Financial Literacy and a standard on decision making, respectively. Each unit includes a description, talking points, and links to recommended resources for teaching the given standard. The talking points are introductory comments and information about the content for each unit. In all, there are 35 lessons, videos, and online courses recommended in the curriculum and about that many recommended as supplemental resources. Thus, the curriculum is designed with flexibility for teachers to select the individual resources that best meet the needs of their classes. The curriculum also includes a glossary of terms and a matrix that aligns all of the recommended and supplemental resources as well as additional resources on personal finance—more than 100 in all—with national standards.
Supply and demand are among the most fundamental concepts in economics. An understanding of these topics helps explain the economic world in which we live. To understand demand, you need to understand the behavior of buyers. This short course for teachers and students uses a fictitious chocolate market to help you better understand the demand side of markets.
GDP: What Is It? defines GDP, explains its components, and defines per capita GDP.
GDP: Measurement and Growth explains how GDP is measured, the difference between real and nominal GDP, the difference between levels of GDP and percentage change in GDP, and what a trend growth rate is.