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SSEMA1 Unit 4 Test Chapter 14 (partial) exclude pages 257-261 The savant will illustrate the means by which economical natural process is measured. a)explain that overall levels of income, employment and prices atomic number 18 determined by the spending and production decisions of ho determinationholds, creasees, government and net exports b)define Gross municipal Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation and aggregate bestow and aggregate demand c)explain how economic growth, inflation and unemployment are calculated d) secern structural, cyclical and frictional unemployment e)define the stages of the business cycle as well as recession and depression f)describe the difference betwixt the national debt and government deficits Summary/Overview The focus of this unit is on the economy as a whole, i.e., the combined effects of man-to-man actions, inflation, deflation, unemployment, the fiscal policies of government and the monetary policy of the Federal grant System. By beginning this study with some important economic indicators, students learn how the economy is measured over time. An understanding of these indicators and how they are derived erect contribute to an understanding of how the national economy is performing. Vocabulary a. heap up Demand b.Aggregate Supply c.

Budget Deficits and Public Debt d.Business Cycles e.Employment and Unemployment f.GDP g.Inflation h. certain vs. Nominal i.Economic Growth Task List (What to do before you assess the standard) 1.What is C+I+G+X stand for? 2.What can GDP tell economist? Per Capita GDP? 3.Draw a circular flow model. Include government. Page 210. 4.What is a business Cycle? Draw and Label one. 5.What is CPI? How can we use CPI to help measure the economy? 6.What are the one-third types of Unemployment? a... b... c... 7.What is the difference between Real and Nominal GDP? a.Real b.Nominal 8.What is and is not... If you motive to get a full essay, order it on our website: Orderessay

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