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Lessons & Activities
46-60 min
Keeping It Real: Teach ACRL Information Literacy Frames with FRED® Data
OVERVIEW
In this activity, students first learn about the concepts of nominal values, real values, and inflation. Next, they learn about basic strategies for establishing the reliability of a data source. Students work in FRED® and use the formula real=(nominal/CPI)*100 to plot inflation-adjusted minimum wage rates for two states and then compare the results.
Related Resources
INFOGRAPHICS & COMICS
VIDEO Q&A
0-15 MIN
Why Does the Fed Care about Inflation?
Explain what happens when inflation gets out of control.
READING Q&A
16-30 MIN
Beyond Inflation Numbers: Shrinkflation and Skimpflation
Define shrinkflation and skimpflation.
LESSONS & ACTIVITIES
31-45 MIN
The Inflation Rate Is Falling but Prices Are Not
Differentiate between inflation, deflation, and disinflation with this active learning lesson.
LESSONS & ACTIVITIES
46-60 MIN
The Economic Goal of Price Stability
Simulate a consumer's experience when dealing with unstable prices.
LESSONS & ACTIVITIES
46-60 MIN
Market Basket
Interpret the effects of inflation on consumers.
