- Circular Flow of the Economy (including Economics)
(Product & Resource Markets) (activity #10)
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- Types of Unemployment (activity #16)
Frictional, Structural, Cyclical, Seasonal
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- Statistics & their Implications (incl. CPI, GDP,
Unemployment, Prime Rate)
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- Full Employment &
Natural Rate of Unemployment
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- Broad Economic Goals:
Full Employment, Price Stability & Economic Growth
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- Business Cycle (activity #17)
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- What counts toward GDP?
- Expenditures Approach C+I+G+(X-M)
- Income Approach
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- Demand-Pull Inflation, Cost-Push Inflation
& Hyperinflation
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- Shortcomings of the statistic GDP
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- Be able to compute Price Indexes (activity #13)
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- Per-capita GDP (standard of living)
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- Who is helped & who is hurt by inflation?
(activity #15)
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