About This Chapter
Who's it for?
Anyone who needs help learning or mastering college macroeconomics material will benefit from taking this course. There is no faster or easier way to learn college macroeconomics. Among those who would benefit are:
- Students who have fallen behind in understanding the business cycle or working with gross domestic product
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning economics (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about macroeconomic equilibrium
- Students who struggle to understand their teachers
- Students who attend schools without extra economics learning resources
How it works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the Macroeconomic Equilibrium chapter exam.
Why it works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the Macroeconomic Equilibrium chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any macroeconomic equilibrium question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students will review:
This chapter helps students review the concepts in a Macroeconomic Equilibrium unit of a standard college-level principles of macroeconomics course. Topics covered include:
- Real output, price level and the real gross domestic product
- Full employment gross domestic product
- The business cycle
- Recession vs. depression
1. Real Output, Price Level and the Real Gross Domestic Product
GDP is an important economic indicator, and it must be understood to be analyzed. In this lesson, you'll learn how price levels impact output and GDP and how real GDP can be calculated.
2. Full Employment GDP: Definition and Examples
In this lesson, you'll learn about an economy that is in balance. The full employment level of GDP is when economic output is at its highest sustainable level, when unemployment is at its most efficient level and when inflation is neither rising nor falling.
3. The Business Cycle: Economic Performance Over Time
Learn the economic terms that describe economic performance over time and how indicators such as unemployment and inflation behave throughout these economic fluctuations.
4. Recession vs. Depression: Definitions and Differentiation
Discover the real differences between recession and depression, including how economists actually define the two terms and when they have happened in the past.
5. Bias Blind Spot: Definition & Examples
Like a blind spot in a car, a blind spot bias is often something of which we're unaware. In this lesson, you will learn about five different biases that can distort our perception of reality and lead to faulty thinking and decisions.
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Other chapters within the Introduction to Macroeconomics: Help and Review course
- The Production Possibilities Curve: Help & Review
- Comparative Advantage, Specialization and Exchange: Help and Review
- Demand, Supply and Market Equilibrium: Help and Review
- Measuring the Economy: Help and Review
- Inflation Measurement and Adjustment: Help and Review
- Understanding Unemployment: Help and Review
- Aggregate Demand and Supply: Help and Review
- Inflation and Unemployment: Help and Review
- Economic Growth and Productivity: Help and Review
- Money, Banking, and Financial Markets: Help and Review
- Central Bank and the Money Supply: Help and Review
- Fiscal and Monetary Policies: Help and Review
- Foreign Exchange and the Balance of Payments: Help and Review
- Inflows, Outflows, and Restrictions: Help and Review
- Government & the Economy: Help and Review
- The U.S. Economic System