Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
Title: AP Macro-Econ GDP, Inflation, and Unemployment
Description: Quickly learn about GDP, Circular Flow, Unemployment, Deflator, CPI, and Inflation. These notes are aimed at 12th grade AP Macro Econ students.
Description: Quickly learn about GDP, Circular Flow, Unemployment, Deflator, CPI, and Inflation. These notes are aimed at 12th grade AP Macro Econ students.
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
AP Macro-Economics
GDP, Circular Flow, Unemployment, Deflator, CPI, Inflation
Gross Domestic Product - quantitative (#) measure of
a nations total economic activity
GDP = C + I + G + X
C = Consumer goods
GDP
I = investment
G = government spending
X = Imports - exports
What doesn’t count
in GDP?
Nominal GDP
1) Intermediate Goods - Ex: Sugar to make
Brownies
2) Used Goods - Ex: Used Textbook
3) Transfer Payments
GDP measured in current ($) prices
NOMINAL GDP = DEFLATOR X REAL GDP / 100
Real GDP
Expressed in a constant or unchanging $
REAL GDP = ( NOMINAL / DEFLATOR ) X 100
Positive UE
Frictional UE
Structural UE
Unemployment due to the time workers spend
job searching
Positive UE
Employment that results when workers lack the
skills required for the available jobs or more
people are seeking jobs than available
Negative UE
Cyclical UE
Deviation of the actual rate of UE from the natural
rate
Ex: Recession
Natural Rate of UE
Not accounted for in
Natural Rate of UE
Rate of UE that arises from the effects of
frictional and structural UE
Discouraged Workers - want a job but aren’t
actively searching because they see little
prospect
Under-employment (Part time workers) - Would
like to work more or are overqualified
Title: AP Macro-Econ GDP, Inflation, and Unemployment
Description: Quickly learn about GDP, Circular Flow, Unemployment, Deflator, CPI, and Inflation. These notes are aimed at 12th grade AP Macro Econ students.
Description: Quickly learn about GDP, Circular Flow, Unemployment, Deflator, CPI, and Inflation. These notes are aimed at 12th grade AP Macro Econ students.