Macroeconomic

To secure their rights, many U.S. workers organized labor unions. These unions struggled for higher wages, improved working conditions, and job security for workers. Labor union membership has declined in recent years, resulting from several factors. In many ways, unions have tried to face these challenges. In addition, the government's attitude toward unions has changed during the last century - swinging from regular support of business owners in the late 1800s to passing laws to protect workers' rights in the early 1900s. VIDEO OBJECTIVES - Explain why labor unions were developed - Describe how labor unions are organized - Identify the main challenges facing unions today - Examine how government attitudes toward labor unions have changed

Macroeconomists use national income and product accounts (NIPAs) to measure the output and income of national economies. This process is known as national income accounting. The primary account used to measure a nation's output is gross domestic product (GDP), the total dollar value of all final goods and services produced within a given country's borders during one year. VIDEO OBJECTIVES - Determine how economists calculate gross domestic product - Explain some of the limitations of gross domestic product - Identify other statistics economists use to measure the economy