Ch 61: CLEP Social Sciences and History: Macroeconomic Equilibrium

About This Chapter

The online video lessons in the Macroeconomic Equilibrium chapter were created to provide knowledge of definitions and theories related to macroeconomics. Watching the lessons could help you understand the events that caused the Great Recession while teaching the importance of analyzing the gross domestic product of other countries. The chapter includes an examination that tests your retention.

CLEP Social Sciences and History: Macroeconomic Equilibrium - Chapter Summary and Learning Objectives

The entertaining video lessons in the Macroeconomic Equilibrium chapter cover the effects of inflation on the economy. You'll also discover how unemployment can affect economic highs and lows. Once you have watched these lessons, you could know more about the:

  • Implications of a depression and a recession
  • Methods economists use to illustrate full employment
  • Distinction between 'real' and 'nominal' in economics

Video Objective
Real Output, Price Level and the Real Gross Domestic Product Discuss the effects of price levels on the gross domestic product.
Full Employment GDP: Definition and Examples Learn about frictional unemployment and the labor market.
The Business Cycle: Economic Performance Over Time Discover how to understand economic fluctuations and graphs of business cycles.
Recession vs. Depression: Definitions and Differentiation Learn about the events of the Great Depression and the Great Recession.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the CLEP Social Sciences and History: Study Guide & Test Prep course