Final Exam Study Guide
complete all questions for all modules.
Chapters â€“ 6 -10 12-16, 18
Chapters 6 – 9
- What is GDP?
- How does GDP avoid multiple counting and exaggeration of the value of GDP?
- What are the things not included in GDP?
- Calculate GDP using the expenditure approach.
- What is The CPI? What is the biggest problem with the CPI?
- What is the difference between NGDP and RGDP?
- What is the difference between the CPI and GDP price index?
- What are the four phases of the business cycle? Make sure you are able to explain what happens in each phase.
- Define and give examples of the types of unemployment?
- What is the economic cost of unemployment and how is it measured? What is Okunâ€™s Law?
- Define Full employment.
- What are the unequal burdens of unemployment?
- What is inflation, and how is the rate of inflation measured?
- How is the unemployment rate measured?
- Compare and contrast demand â€“ pull and cost-push types of inflation.
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Also posted onJanuary 1, 1970 @ 12:00 am