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Macroeconomics Exam 2 Study Guide: GDP, Unemployment, and Economic Growth

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Expenditure Approach for Measuring GDP

Detailed Explanation of GDP Components

Nominal GDP and Real GDP

Shortcomings of GDP

Other Measures of Total Production and Total Income

Labor Force and Unemployment

Types of Unemployment

Inflation and Consumer Price Index (CPI)

Using CPI to Adjust for Inflation

Problems with the Consumer Price Index (CPI)

Nominal Interest, Real Interest, and the Fisher Equation

Long-Run Economic Growth

Growth Rates and the Rule of 70

Investment, Savings, and the Financial System