About This Chapter
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- Identify which concepts are covered on your macroeconomic equilibrium homework.
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Topics from your homework you'll be able to complete:
- 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. What is Economic Policy? - Definition & Examples
In this lesson, we will discuss the term economic policy. We'll then look at the functions of economic policy, as well as the goals government use when implementing policy.
6. What is Economic Growth? - Definition, Theory & Impact
How do we measure and explain economic growth? This lesson will go through the various theories of economic growth which all try to explain how a country continues to increase production.
7. Macroeconomic Equilibrium: Definition, Short Run & Long Run
This lesson will take a look at what happens to an economy at equilibrium in the short run and the long run. We'll take a look at some graphs of recessionary and inflationary gaps, and discuss what producers do in reaction to economic changes.
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Other chapters within the College Macroeconomics: Homework Help Resource course
- Homework Help for Scarcity, Choice & the Production Possibilities Curve
- Comparative Advantage, Specialization and Exchange: Homework Help
- Demand, Supply and Market Equilibrium: Homework Help
- Measuring the Economy: Homework Help
- Inflation Measurement and Adjustment: Homework Help
- Understanding Unemployment: Homework Help
- Aggregate Demand and Supply: Homework Help
- Inflation and Unemployment: Homework Help
- Economic Growth and Productivity: Homework Help
- Money, Banking, and Financial Markets: Homework Help
- Central Bank and the Money Supply: Homework Help
- Fiscal and Monetary Policies: Homework Help
- Foreign Exchange and the Balance of Payments: Homework Help
- Inflows, Outflows, and Restrictions: Homework Help