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E.5.1 Explain measures of a country's economic performance such as gross domestic product (GDP), unemployment, and inflation. (E)
E.5.2 Explain the limitations of using GDP to measure economic welfare. Compare the different types of GDP and (nominal, per capita, real) explain the strengths and limitations of each.
E.5.3 Identify the different causes of inflation (i.e., cost-push and demand-pull), and explain the impact of inflation on economic decisions. (E)
E.5.4 Explain the causes and effects of business cycles in a market economy.
E.5.5 Explain frictional, structural, cyclical, and seasonal unemployment, and analyze the impact of unemployment.
E.5.2 Explain the limitations of using GDP to measure economic welfare. Compare the different types of GDP and (nominal, per capita, real) explain the strengths and limitations of each.
E.5.3 Identify the different causes of inflation (i.e., cost-push and demand-pull), and explain the impact of inflation on economic decisions. (E)
E.5.4 Explain the causes and effects of business cycles in a market economy.
E.5.5 Explain frictional, structural, cyclical, and seasonal unemployment, and analyze the impact of unemployment.
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