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Macroeconomics Exam 1 Study Guide: GDP, Unemployment, Inflation, and Economic Growth

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Expenditure Approach for Measuring GDP

Detailed Explanation of GDP Components

Shortcomings of GDP

Nominal GDP and Real GDP

Labor Force and Unemployment

Types of Unemployment

Unemployment: Minimum Wage Laws and Efficiency Wages

Growth Rates and the Rule of 70

Institutions that Promote Economic Growth

Investment, Savings, and the Financial System

Savings Equal Investment

Market for Loanable Funds

Shifts in the Market for Loanable Funds

Business Cycles and Their Characteristics