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Economics 102: Macroeconomics
Course Overview
Lessons (137)
Syllabus
Practice Tests (15)

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Economics 102: Macroeconomics has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. Inside, you'll find bite-sized lessons and self-assessment quizzes that make the studying process fun. The course is a great resource for getting a head start on your degree. Read the full course syllabus

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16 Chapters in Economics 102: Macroeconomics

Ch 1. Scarcity, Choice, and the Production Possibilities Curve {{cp.topicAssetIdToProgress[1911].percentComplete}}% complete

	Best Score
Lesson 1 - Economic Scarcity and the Function of Choice	Score: {{cp.lessonAssetIdToProgress[1912].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1912].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1912].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1912].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Opportunity Cost: Definition & Real World Examples	Score: {{cp.lessonAssetIdToProgress[1913].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1913].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1913].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1913].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - How to Calculate Opportunity Cost	Score: {{cp.lessonAssetIdToProgress[1914].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1914].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1914].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1914].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Applying the Production Possibilities Model	Score: {{cp.lessonAssetIdToProgress[1915].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1915].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1915].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1915].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Shifts in the Production Possibilities Curve	Score: {{cp.lessonAssetIdToProgress[1916].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1916].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1916].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1916].bestScoreQuestions}} Take Quiz Optional
Lesson 6 - Opportunity Cost: Formula & Analysis	Score: {{cp.lessonAssetIdToProgress[82070].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82070].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82070].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82070].bestScoreQuestions}} Take Quiz Optional

Go to chapter Scarcity, Choice, and the Production Possibilities Curve

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1911].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1911].bestScoreQuestions}} Practice Chapter Test - Scarcity, Choice, and the Production Possibilities Curve

Ch 2. Comparative Advantage, Specialization and Exchange {{cp.topicAssetIdToProgress[1917].percentComplete}}% complete

	Best Score
Lesson 1 - Comparative Advantage: Definition and Examples	Score: {{cp.lessonAssetIdToProgress[1919].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1919].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1919].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1919].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Gains From Trade and the Benefit of Specialization	Score: {{cp.lessonAssetIdToProgress[1920].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1920].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1920].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1920].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - Absolute Advantage in Trade: Definition and Examples	Score: {{cp.lessonAssetIdToProgress[1921].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1921].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1921].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1921].bestScoreQuestions}} Take Quiz Optional

Go to chapter Comparative Advantage, Specialization and Exchange

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1917].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1917].bestScoreQuestions}} Practice Chapter Test - Comparative Advantage, Specialization and Exchange

Ch 3. Demand, Supply and Market Equilibrium {{cp.topicAssetIdToProgress[1922].percentComplete}}% complete

	Best Score
Lesson 1 - Market Demand Schedule	Score: {{cp.lessonAssetIdToProgress[1923].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1923].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1923].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1923].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Market Supply Schedule	Score: {{cp.lessonAssetIdToProgress[1924].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1924].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1924].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1924].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - The Law of the Downward Sloping Demand Curve	Score: {{cp.lessonAssetIdToProgress[1925].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1925].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1925].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1925].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - The Upward-Sloping Supply Curve	Score: {{cp.lessonAssetIdToProgress[1926].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1926].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1926].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1926].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - How to Calculate Market Equilibrium	Score: {{cp.lessonAssetIdToProgress[1927].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1927].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1927].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1927].bestScoreQuestions}} Take Quiz Optional
Lesson 6 - How Changes in Supply and Demand Affect Market Equilibrium	Score: {{cp.lessonAssetIdToProgress[2362].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2362].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2362].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2362].bestScoreQuestions}} Take Quiz Optional

Go to chapter Demand, Supply and Market Equilibrium

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1922].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1922].bestScoreQuestions}} Practice Chapter Test - Demand, Supply and Market Equilibrium

Ch 4. Measuring the Economy {{cp.topicAssetIdToProgress[1928].percentComplete}}% complete

	Best Score
Lesson 1 - Circular Flow of Economic Activity: The Flow of Goods, Services & Resources	Score: {{cp.lessonAssetIdToProgress[1929].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1929].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1929].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1929].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Gross Domestic Product: Using the Income and Expenditure Approaches	Score: {{cp.lessonAssetIdToProgress[1930].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1930].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1930].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1930].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - Gross Domestic Product: Definition and Components	Score: {{cp.lessonAssetIdToProgress[1931].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1931].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1931].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1931].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Gross Domestic Product: Items Excluded from National Production	Score: {{cp.lessonAssetIdToProgress[2363].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2363].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2363].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2363].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Investment vs. Investments in Economics	Score: {{cp.lessonAssetIdToProgress[1933].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1933].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1933].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1933].bestScoreQuestions}} Take Quiz Optional

Go to chapter Measuring the Economy

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1928].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1928].bestScoreQuestions}} Practice Chapter Test - Measuring the Economy

Ch 5. Inflation Measurement and Adjustment {{cp.topicAssetIdToProgress[1934].percentComplete}}% complete

	Best Score
Lesson 1 - Consumer Price Index: Measuring the Cost of Living and Inflation	Score: {{cp.lessonAssetIdToProgress[1935].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1935].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1935].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1935].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - The GDP Deflator and Consumer Price Index	Score: {{cp.lessonAssetIdToProgress[1936].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1936].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1936].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1936].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - Consumer Price Index and the Substitution Bias	Score: {{cp.lessonAssetIdToProgress[1937].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1937].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1937].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1937].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Adjusting Wages for the Inflation Rate	Score: {{cp.lessonAssetIdToProgress[1938].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1938].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1938].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1938].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Gross Domestic Product: Nominal vs. Real GDP	Score: {{cp.lessonAssetIdToProgress[1939].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1939].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1939].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1939].bestScoreQuestions}} Take Quiz Optional
Lesson 6 - Gross Domestic Product: How to Calculate Real GDP	Score: {{cp.lessonAssetIdToProgress[2576].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2576].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2576].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2576].bestScoreQuestions}} Take Quiz Optional
Lesson 7 - How to Calculate Real GDP Growth Rates	Score: {{cp.lessonAssetIdToProgress[2420].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2420].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2420].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2420].bestScoreQuestions}} Take Quiz Optional
Lesson 8 - Cost-Push Inflation: How the Supply Side of the Economy Leads to Inflation	Score: {{cp.lessonAssetIdToProgress[2473].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2473].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2473].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2473].bestScoreQuestions}} Take Quiz Optional
Lesson 9 - The Multiplier Effect and the Simple Spending Multiplier: Definition and Examples	Score: {{cp.lessonAssetIdToProgress[2436].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2436].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2436].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2436].bestScoreQuestions}} Take Quiz Optional
Lesson 10 - Demand-Pull Inflation vs Cost-Push Inflation	Score: {{cp.lessonAssetIdToProgress[1940].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1940].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1940].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1940].bestScoreQuestions}} Take Quiz Optional
Lesson 11 - Effects of Inflation on Suppliers and Demanders	Score: {{cp.lessonAssetIdToProgress[1942].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1942].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1942].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1942].bestScoreQuestions}} Take Quiz Optional
Lesson 12 - Equation of Exchange & Inflation Rate	Score: {{cp.lessonAssetIdToProgress[82071].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82071].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82071].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82071].bestScoreQuestions}} Take Quiz Optional

Go to chapter Inflation Measurement and Adjustment

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1934].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1934].bestScoreQuestions}} Practice Chapter Test - Inflation Measurement and Adjustment

Ch 6. Understanding Unemployment {{cp.topicAssetIdToProgress[1943].percentComplete}}% complete

	Best Score
Lesson 1 - Defining and Measuring the Unemployment Rate	Score: {{cp.lessonAssetIdToProgress[1944].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1944].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1944].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1944].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Why the Unemployment Rate Decreases and Increases	Score: {{cp.lessonAssetIdToProgress[1945].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1945].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1945].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1945].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - Three Types of Unemployment: Cyclical, Frictional & Structural	Score: {{cp.lessonAssetIdToProgress[1946].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1946].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1946].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1946].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Natural Rate of Unemployment: Definition and Formula	Score: {{cp.lessonAssetIdToProgress[1947].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1947].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1947].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1947].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Rational Expectations in the Economy and Unemployment	Score: {{cp.lessonAssetIdToProgress[1948].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1948].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1948].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1948].bestScoreQuestions}} Take Quiz Optional
Lesson 6 - Minimum Wage and its Effects on Employment	Score: {{cp.lessonAssetIdToProgress[2409].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2409].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2409].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2409].bestScoreQuestions}} Take Quiz Optional
Lesson 7 - Natural Rate of Unemployment: Graphs & Analysis	Score: {{cp.lessonAssetIdToProgress[82072].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82072].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82072].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82072].bestScoreQuestions}} Take Quiz Optional
Lesson 8 - Measuring the Costs of Unemployment	Score: {{cp.lessonAssetIdToProgress[82073].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82073].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82073].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82073].bestScoreQuestions}} Take Quiz Optional
Lesson 9 - Efficiency Wage Theory & Impact on Labor Market	Score: {{cp.lessonAssetIdToProgress[82074].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82074].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82074].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82074].bestScoreQuestions}} Take Quiz Optional

Go to chapter Understanding Unemployment

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1943].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1943].bestScoreQuestions}} Practice Chapter Test - Understanding Unemployment

Ch 7. Aggregate Demand and Supply {{cp.topicAssetIdToProgress[1949].percentComplete}}% complete

	Best Score
Lesson 1 - The Keynesian Model and the Classical Model of the Economy	Score: {{cp.lessonAssetIdToProgress[2459].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2459].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2459].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2459].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Supply and Demand Curves in the Classical Model and Keynesian Model	Score: {{cp.lessonAssetIdToProgress[2460].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2460].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2460].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2460].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - Aggregate Supply and Aggregate Demand (AS-AD) Model	Score: {{cp.lessonAssetIdToProgress[2411].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2411].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2411].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2411].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Understanding Shifts in Labor Supply and Labor Demand	Score: {{cp.lessonAssetIdToProgress[2410].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2410].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2410].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2410].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Marginal Propensity to Consume: Definition and Formula of the MPC	Score: {{cp.lessonAssetIdToProgress[1952].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1952].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1952].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1952].bestScoreQuestions}} Take Quiz Optional
Lesson 6 - Government Spending, GDP, and Crowding Out Private Investment	Score: {{cp.lessonAssetIdToProgress[1954].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1954].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1954].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1954].bestScoreQuestions}} Take Quiz Optional
Lesson 7 - Aggregate Supply in the Economy: Definition and Determinants	Score: {{cp.lessonAssetIdToProgress[1955].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1955].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1955].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1955].bestScoreQuestions}} Take Quiz Optional
Lesson 8 - Aggregate Supply in the Short Run	Score: {{cp.lessonAssetIdToProgress[1956].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1956].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1956].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1956].bestScoreQuestions}} Take Quiz Optional
Lesson 9 - Sticky Wages and Prices: Effect on Equilibrium	Score: {{cp.lessonAssetIdToProgress[1957].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1957].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1957].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1957].bestScoreQuestions}} Take Quiz Optional
Lesson 10 - Favorable Supply Shocks & Unfavorable Supply Shocks	Score: {{cp.lessonAssetIdToProgress[1959].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1959].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1959].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1959].bestScoreQuestions}} Take Quiz Optional
Lesson 11 - Impact of Marginal Propensity to Consume on Individual & National Economy	Score: {{cp.lessonAssetIdToProgress[82075].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82075].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82075].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82075].bestScoreQuestions}} Take Quiz Optional
Lesson 12 - Marginal Propensity to Save: Formula & Relationship to MPC	Score: {{cp.lessonAssetIdToProgress[82076].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82076].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82076].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82076].bestScoreQuestions}} Take Quiz Optional
Lesson 13 - Consumption Function: Relationship Between Marginal & Average Propensity to Consume	Score: {{cp.lessonAssetIdToProgress[82077].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82077].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82077].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82077].bestScoreQuestions}} Take Quiz Optional
Lesson 14 - Marginal Propensity to Consume & Multiplier Effect	Score: {{cp.lessonAssetIdToProgress[82078].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82078].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82078].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82078].bestScoreQuestions}} Take Quiz Optional

Go to chapter Aggregate Demand and Supply

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1949].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1949].bestScoreQuestions}} Practice Chapter Test - Aggregate Demand and Supply

Ch 8. Macroeconomic Equilibrium {{cp.topicAssetIdToProgress[1961].percentComplete}}% complete

	Best Score
Lesson 1 - Real Output, Price Level and the Real Gross Domestic Product	Score: {{cp.lessonAssetIdToProgress[1962].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1962].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1962].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1962].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Full Employment GDP: Definition and Examples	Score: {{cp.lessonAssetIdToProgress[1965].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1965].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1965].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1965].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - The Business Cycle: Economic Performance Over Time	Score: {{cp.lessonAssetIdToProgress[1966].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1966].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1966].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1966].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Recession vs. Depression: Definitions and Differentiation	Score: {{cp.lessonAssetIdToProgress[1967].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1967].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1967].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1967].bestScoreQuestions}} Take Quiz Optional

Go to chapter Macroeconomic Equilibrium

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1961].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1961].bestScoreQuestions}} Practice Chapter Test - Macroeconomic Equilibrium

Ch 9. Inflation and Unemployment {{cp.topicAssetIdToProgress[1968].percentComplete}}% complete

	Best Score
Lesson 1 - The Phillips Curve Model: Inflation and Unemployment	Score: {{cp.lessonAssetIdToProgress[1970].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1970].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1970].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1970].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - Factors That Shift the Phillips Curve	Score: {{cp.lessonAssetIdToProgress[1971].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1971].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1971].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1971].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - The Phillips Curve in the Short Run: Economic Behavior	Score: {{cp.lessonAssetIdToProgress[1972].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1972].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1972].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1972].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - The Phillips Curve in the Long Run: Inflation Rate	Score: {{cp.lessonAssetIdToProgress[1973].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1973].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1973].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1973].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Inflation & Unemployment Relationship Phases: Phillips, Stagflation & Recovery	Score: {{cp.lessonAssetIdToProgress[82079].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82079].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[82079].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82079].bestScoreQuestions}} Take Quiz Optional

Go to chapter Inflation and Unemployment

Practice Chapter Exam - Score: {{cp.topicAssetIdToProgress[1968].bestScoreCorrect}}/{{cp.topicAssetIdToProgress[1968].bestScoreQuestions}} Practice Chapter Test - Inflation and Unemployment

Ch 10. Economic Growth and Productivity {{cp.topicAssetIdToProgress[1975].percentComplete}}% complete

	Best Score
Lesson 1 - Economic Growth: How to Raise a Nation's Potential Output	Score: {{cp.lessonAssetIdToProgress[2471].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2471].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2471].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2471].bestScoreQuestions}} Take Quiz Optional
Lesson 2 - How Real GDP per Capita Affects the Standard of Living	Score: {{cp.lessonAssetIdToProgress[2472].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2472].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[2472].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2472].bestScoreQuestions}} Take Quiz Optional
Lesson 3 - Productivity: The Economy's Long-Run Growth Engine	Score: {{cp.lessonAssetIdToProgress[1976].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1976].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1976].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1976].bestScoreQuestions}} Take Quiz Optional
Lesson 4 - Investment in Human Capital and Productivity	Score: {{cp.lessonAssetIdToProgress[1977].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1977].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1977].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1977].bestScoreQuestions}} Take Quiz Optional
Lesson 5 - Physical Capital: Definition and Effects on Productivity	Score: {{cp.lessonAssetIdToProgress[1978].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1978].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1978].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1978].bestScoreQuestions}} Take Quiz Optional
Lesson 6 - How Technology, Research & Development Affect Productivity	Score: {{cp.lessonAssetIdToProgress[1980].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1980].bestScoreQuestions}} Take Quiz Optional
		Score: {{cp.lessonAssetIdToProgress[1980].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1980].bestScoreQuestions}} Take Quiz Optional
Lesson 7 - Growth Policy and Economic Productivity	Score: {{cp.lessonAssetIdToProgress[1981].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1981].bestScoreQuestions}} Take Quiz Optional
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Lesson 6 - Fractional Reserve System: Required and Excess Reserves	Score: {{cp.lessonAssetIdToProgress[1986].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1986].bestScoreQuestions}} Take Quiz Optional
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Lesson 8 - Money and Multiplier Effect: Formula and Reserve Ratio	Score: {{cp.lessonAssetIdToProgress[1988].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1988].bestScoreQuestions}} Take Quiz Optional
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Lesson 7 - Quantity Theory of Money: Output and Prices	Score: {{cp.lessonAssetIdToProgress[1995].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1995].bestScoreQuestions}} Take Quiz Optional
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Lesson 8 - The Velocity of Money: Definition and Circulation Speed	Score: {{cp.lessonAssetIdToProgress[2708].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2708].bestScoreQuestions}} Take Quiz Optional
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Lesson 10 - The Importance of Timing in Fiscal and Monetary Policy Decisions	Score: {{cp.lessonAssetIdToProgress[2010].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2010].bestScoreQuestions}} Take Quiz Optional
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			Course Progress	Best Score
	Flashcards - Scarcity, Choice & Production Possibilities Curve Flashcards

	Flashcards - Comparative Advantage, Specialization & Exchange Flashcards

	Flashcards - Demand, Supply & Market Equilibrium Flashcards

	Flashcards - GDP & Economic Activity Flashcards

	Flashcards - Understanding Inflation Effects Flashcards

	Flashcards - Overview of Unemployment Flashcards

	Flashcards - Aggregate Demand & Supply Flashcards

	Flashcards - Equilibrium in Macroeconomics Flashcards

	Flashcards - Economic Growth & Productivity Flashcards

	Flashcards - Money, Banking & Financial Markets Flashcards

	Flashcards - Central Bank & Money Supply Flashcards

	Flashcards - Fiscal & Monetary Policies Flashcards

	Flashcards - Foreign Exchange & Payment Balance Flashcards

	Flashcards - Inflows, Outflows & Trade Restrictions Flashcards

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Course Syllabus

Course Objective

The course objective is to have you examine macroeconomic concepts and perform macroeconomic calculations, such as solving opportunity cost and wage inflation equations. You will also examine basic functions of money and categories of financial assets.

Grading Policy

Your grade for this course will be calculated out of 300 points. The minimum score required to pass and earn real college credit for this course is 210 points, or an overall course grade of 70%. The table below shows the assignments you must complete and how they'll be incorporated into the overall grade.

Assignment	Possible Points
Quizzes	100
Proctored Final Exam	200
Total	300

Quizzes

Quizzes are meant to test your comprehension of each lesson as you progress through the course. Here's a breakdown of how you will be graded on quizzes and how they'll factor into your final score:

You will have 3 attempts to take each quiz for a score.
The highest score of your first 3 attempts will be recorded as your score for each quiz.
When you've completed the course, the highest scores from your first 3 attempts at each quiz will be averaged together and weighed against the total possible points for quizzes. For instance, if your average quiz score is 85%, you'll receive 85 out of 100 possible points for quizzes.
After your initial 3 attempts, you can take a quiz for practice as many times as you'd like.
You will need to pass each quiz with a score of at least 80% to earn course progress for the lesson. However, it is not necessary to earn 80% within the first three quiz attempts.

Proctored Final Exam

The proctored final exam is a cumulative test designed to ensure that you've mastered the material in the course.

You'll earn points equivalent to the percentage grade you receive on your proctored final. (So if you earn 90% on the final, that's 180 points toward your final grade.)
If you're unsatisfied with your score on the exam, you'll be eligible to retake the exam after a 3-day waiting period.
You can only retake the exam twice, so be sure to use your study guide and fully prepare yourself before you take the exam again.

Items Allowed on Study.com Proctored Exam for Economics 102:

A non-graphing, scientific calculator
One sheet of blank scratch paper
Pen or pencil

Items NOT Allowed on Study.com Proctored Exam for Economics 102:

Graphing calculators
Office programs, web browsers, or any programs other than Software Secure (including Study.com lessons)
Textbooks (digital or physical)
Mobile phones, headphones, speakers, TVs, radios
Notebooks or notes

Course Outcomes

Upon completion of this course, you will be able to:

Analyze economic scarcity, choice, and calculating opportunity cost
Identify market demand schedule, market supply schedule, and interpret market equilibrium
Examine unemployment rates, inflation, gross domestic product, and the consumer price index
Compare financial asset types and financial market categories
Describe the basic functions of money, the fractional reserve system, money demand, and interest rates
Demonstrate the time value of money and the money supply
Explain foreign currency exchange, how fiscal policies affect the exchange rate, and how currency changes affect imports and exports
Summarize net exports, capital flows, trade balance, markets, and trade restrictions

Prerequisites

There are no prerequisites for this course.

Course Format

Economics 102 consists of short video lessons that are organized into topical chapters. Each video is approximately 5-10 minutes in length and comes with a quick quiz to help you measure your learning. The course is completely self-paced. Watch lessons on your schedule whenever and wherever you want.

At the end of each chapter, you can complete a chapter test to see if you're ready to move on or have some material to review. Once you've completed the entire course, take the practice test and use the study tools in the course to prepare for the proctored final exam. You may take the proctored final exam whenever you are ready.

How Credit Recommendations Work

This course has been evaluated and recommended by both ACE and NCCRS for 3 semester hours in the lower division baccalaureate degree category. To apply for transfer credit, follow these steps:

If you already have a school in mind, check with the registrar to see if the school will grant credit for courses recommended by either ACE or NCCRS.
Complete Economics 102 by watching video lessons and taking short quizzes.
Take the Economics 102 final exam directly on the Study.com site.
Request a transcript to be sent to the accredited school of your choice!
Check out this page for more information on Study.com's credit-recommended courses.

Additional Information

Course Topics

Category	Objectives
Scarcity, Choice, and The Production Possibilities Curve	Study economic scarcity and the function of choice, opportunity cost and how to calculate it. Apply the production possibilities model. Look at how the production possibilities curve shifts.
Comparative Advantage, Specialization and Exchange	Learn about comparative advantages. Identify trade-related gains and the benefit of specialization. Define absolute advantage in trade.
Demand, Supply and Market Equilibrium	Find out about market demand schedule, market supply schedule, the law of the downward-sloping demand curve, and the upward-sloping supply curve. Also, study how to calculate market equilibrium and how changes in supply and demand impact market equilibrium.
Measuring the Economy	Learn about the circular flow of economic activity, the gross domestic product, approaches to income and expenditure, and items not included in the national production figures. Also, take a look at investment vs. investments in economics.
Inflation Measurement and Adjustment	Examine the consumer price index, the GDP deflator, and the substitution bias. Compare the nominal GDP to the real GDP. Study how to adjust wages for the inflation rate, and calculate real GDP growth rates. Learn about the multiplier effect, and distinguish between cost-push inflation and demand-pull inflation. Review the effects of inflation on the economy, go through the equation of exchange.
Understanding Unemployment	Examine how to define and measure the unemployment rate. Determine what causes the unemployment rate to rise and fall. Define the three types of unemployment, the natural rate of unemployment, rational expectations in the economy, and the effects of minimum wage. Calculate unemployment costs, and examine how the labor market can be impacted by the efficiency wage theory.
Aggregate Demand and Supply	Examine the Keynesian and the classical model of the economy. Take a look at supply and demand curves in both models. Check out the aggregate supply and aggregate demand (AS-AD) model. Examine shifts in labor supply and labor demand. Identify the formulas and impact of the marginal propensity to consume. Practice the marginal propensity to save formula, identify the multiplier effect, and look into concepts related to government spending. Explore aggregate supply in the economy, including determinants, short run, equilibrium effects, and both favorable and unfavorable supply shocks.
Macroeconomic Equilibrium	Take a look at real output, full employment GDP, and economic performance over time. Additionally, learn about recession vs. depression.
Inflation and Unemployment	Examine inflation with a look at the Phillips curve model and the various factors that shift the Phillips curve. Show the relationship between unemployment and inflation in connection to the Phillips curve.
Economic Growth and Productivity	Define national income accounting. Learn about economic growth and how real GDP per capita impacts the standard of living. Find out about productivity, investment in human capital, and physical capital. Discover what else affects productivity, such as advances in technology as well as research and development. Analyze economic productivity and growth policy.
Money, Banking and Financial Markets	Study types of financial assets, calculate future and present values of money, and see examples of how the money supply is measured. Determine the purpose of money and the four basic functions of money, the fractional reserve system, how money is manufactured, and the formula for the money multiplier. Find out about determining interest rates in connection to the money demand, and explore the money market.
Central Bank and the Money Supply	Take a look at topics relevant to money, such as the Federal Reserve system, open market operations, the quantity theory of money, and the velocity of money. Look at how the reserve ratio affects the money supply, how banks borrow money from the Federal Reserve, and how the Federal Reserve changes the money supply. Examine topics related to interest rates, such as real versus nominal rates, private investments, the consumer price index, hyperinflation, and money supply.
Fiscal and Monetary Policies	Find out about the Keynesian Revolution, fiscal policy tools, expansionary fiscal policy, aggregate demand, and contractionary fiscal policy. Discuss the progressive tax code, automatic stabilizers, the expansionary and contractionary monetary policies, policy decisions and timing, supply-side economics, the national debt, and short-term GDP. Compare the contractionary gap and the expansionary gap, calculate the size of each, and review various monetary policies.
Foreign Exchange and the Balance of Payments	Study foreign currency exchange. Learn about currency appreciation and depreciation, how fiscal and monetary policies affect the exchange rate, and how currency changes affect imports and exports. Identify methods for achieving trade balance, and points out factors related to the balance of payments.
Inflows, Outflows, and Restrictions	Find out about net exports, capital flows, trade balance, financial markets, goods markets, tariffs, and trade restrictions.

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Practice Final Test

Economics 102: Macroeconomics

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Practice Chapter Tests

Ch. 1: Scarcity, Choice, and the Production Possibilities Curve

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Ch. 2: Comparative Advantage, Specialization and Exchange

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Ch. 3: Demand, Supply and Market Equilibrium

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A Bacteria Culture Starts with 840 Bacteria and Grows at a Rate Proportional to Its Size. After 3 Hours There Will Be 2520 Bacteria. (a) Express the Population After T Hours As a Function of T. (b) What Will Be the Population After 6 Hours? (c

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Economics 102: Macroeconomics

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Course Objective

Grading Policy

Quizzes

Proctored Final Exam

Course Outcomes

Prerequisites

Course Format

How Credit Recommendations Work

Additional Information

Course Topics

Earn Credit By Passing This Course

Earning College Credit

Transferring credit to the school of your choice

Exam Steps

Pre-Exam Checklist

Exam Process Details

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2. Download Software Secure

3. Take Exam

4. Get Exam Results

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