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Ch 16: Georgia Milestones: Measuring Economic Activity

About This Chapter

Prepare for the Georgia Milestones Economics/ Business/ Free Enterprise EOC exam by going through our helpful online lessons. The lessons in this chapter will teach you all you need to know about measuring economic activity.

Georgia Milestones: Measuring Economic Activity- Chapter Summary

Before you take the Georgia Milestones Economics/ Business/ Free Enterprise EOC exam, use our study guide to learn about topics related to measuring economic activity. These lessons will go over different topics on this subject that you might encounter on the exam itself. Some of the topics you will learn about in the lessons are:

  • Gross domestic product
  • The circular flow of economic activity
  • Investment vs. investments
  • The effects of fiscal policy on unemployment
  • Consumer price index
  • The definitions, types, causes and effects of inflation and stagflation

Use the chapter's practice quizzes to assess your knowledge of some of these topics after you have finished going over all of the lessons. Once you have completed the whole chapter, you'll have a much bigger leg-up on the Georgia Milestones Economics/ Business/ Free Enterprise EOC exam itself!

10 Lessons in Chapter 16: Georgia Milestones: Measuring Economic Activity
Test your knowledge with a 30-question chapter practice test
Overview of the Gross Domestic Product

1. Overview of the Gross Domestic Product

In this lesson, we explore the economic measurement, gross domestic product (GDP), what is included and what is not, and a few tricks economists use to calculate GDP.

Gross Domestic Product: Definition and Components

2. Gross Domestic Product: Definition and Components

Learn how economists measure the total production of an economy using gross domestic product (GDP). This lesson also outlines the components that make up a GDP. How do we calculate the economic value of a nation?

Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

3. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

Learn about the simple model used to describe where money goes and what it is exchanged for in a market economy. The circular flow model of economic activity shows you the basic relationships between households, firms and the government.

Gross Domestic Product: Using the Income and Expenditure Approaches

4. Gross Domestic Product: Using the Income and Expenditure Approaches

In this lesson, you will learn how economists measure gross domestic product using two different methods - the income approach and the expenditure approach.

Gross Domestic Product: Items Excluded from National Production

5. Gross Domestic Product: Items Excluded from National Production

In this lesson, you'll gain a better understanding of what the gross domestic product is by exploring things that are excluded from it. Why do we count some items in the GDP but not others?

Investment vs. Investments in Economics

6. Investment vs. Investments in Economics

Discover the important difference between investment in economics and investments that individuals make by saving out of their income. This lesson defines and outlines the basic components of gross private domestic investment.

Consumer Price Index: Measuring the Cost of Living and Inflation

7. Consumer Price Index: Measuring the Cost of Living and Inflation

In this lesson, you'll learn what the Consumer Price Index is and how it measures changes in the level of prices in an economy. You'll also learn about the important economic concepts of inflation and deflation. Why do prices always seem to be going up?

Inflation: Definition, Types, Causes & Effects

8. Inflation: Definition, Types, Causes & Effects

In this lesson we will take a look at inflation and its importance. We will discuss the types and causes of inflation, as well as look at the effects of inflation.

Stagflation: Definition, Causes & Effects

9. Stagflation: Definition, Causes & Effects

There are different types of economic problems, but few match stagflation. In this lesson, you'll learn what stagflation is, what causes it, and how it affects an economy suffering from it. A short quiz follows the lesson.

The GDP Deflator and Consumer Price Index

10. The GDP Deflator and Consumer Price Index

Have you ever wondered how inflation is measured? This lesson will compare and contrast two of the indicators used to measure inflation - the consumer price index and the GDP deflator.

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

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