Unit 3 (GDP, Inflation, Unemployment)

Gross Domestic Product (GDP), Inflation, Unemployment


GDP
1. Analyze the components of the Circular Flow Diagram and use it to explain how a single purchase can influence all the Macro flows in the country
2. Describe the purpose of National Income Accounting
3. Define Gross National Product, Gross Domestic Product, Net National Product, National Income, Personal Income, and Disposable Income
4. Explain how we measure GNP and GDP
5. Explain what Goods and Services are counted in GNP and GDP as Consumption, Investment, Government Expenditures, and Net Exports
6. Compute GNP, GDP, NI, PI, and DI when given National Income Accounting data
7. Compute GNP and GDP using both the Income and Expenditure methods
8.Describe the difference between Nominal and Real GDP
9.Describe the phases of the Business Cycle
10. Identify the phases of the Business Cycle when given the appropriate economic data

 
Chapter 6 in the ONLINE TEXTBOOK
Lecture Notes for Chapter 7

View Videos for GDP

Video for GDP (HT: Jason Welker)  Click HERE for Worksheet that accompanies video





Video Nominal GDP vs Real GDP. Worksheet that accompanies this video


Video for GDP (The Business Cycle).



Online Tutorials for GDP
GDP--Real vs Nominal, Flow vs Stock, Formula, Implicit Price Deflator

Homework
Take online quiz for GDP
Worksheet for GDP

Inclass Promethean Board Activity
Investment HunterGDP--Included/Not Included

Extra GDP Resources



Inflation
1. Describe the purpose of a Price Index
2. Explain how a Price Index is calculated
3. Use a Price Index to calculate the rate of Inflation
4. Distinguish between Demand-Pull inflation and Cost-Push Inflation
 
PowerPoint for Inflation

 
Online Tutorials for Inflation
Inflation and Price Level

Homework
Worksheets for Inflation

Unemployment
1. Explain how Unemployment is measured in the United States
2. Calculate Unemployment and Employment Rates from appropriate data
3. Differentiate between Frictional, Cyclical, Structural and Seasonal Unemployment
 
Online Tutorials for Unemployment
Definition/Types of Unemployment

View Videos for Unemployment
 

Homework Due
Online Quiz for Unemployment
Worksheets for Unemployment

Extra Resources on Unemployment

My Blog Posts on this Topic
Frictional/Structural


UNIT TEST

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