Ch 73: Macroeconomic Equilibrium - ORELA Middle Grades Social Science

About This Chapter

Refresh your understanding of macroeconomics by reviewing this chapter. Studying the information provided in these lessons will help you be more thoroughly prepared for the ORELA Middle Grades Social Science test.

Macroeconomic Equilibrium: ORELA Middle Grades Social Science - Chapter Summary

This chapter focuses on the gross domestic product, the business cycle, and other aspects of macroeconomic equilibrium in an attempt to help you get ready for the ORELA Middle Grades Social Science test. Subjects included in this chapter are as follows:

  • How to determine the Real Gross Domestic Product using the GDP Deflator
  • Explanation of full employment GDP
  • The business cycle concept
  • Differences between recession and depression

Be sure to take the self-assessment quizzes at the end of each lesson to determine how well you comprehend and remember the information you've reviewed. These video lessons are meant to convey valuable information in an engaging manner to give you confidence as you go into the ORELA Middle Grades Social Science test.

Macroeconomic Equilibrium- ORELA Middle Grades Social Science Chapter Objectives

The purpose of the ORELA Middle Grades Social Science test is to ascertain how firm a foundation of middle school social science information you have. It determines how qualified you are for the certification required to teach these courses. Of the 150 multiple-choice questions on the exam, roughly 12% are related to economics. One of the objectives of the economics questions is to demonstrate an understanding of macroeconomics, a topic this chapter covers in-depth. By viewing these video lessons and taking each interactive quiz, this chapter will help prepare you for the macroeconomics questions on the exam.

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Other Chapters

Other chapters within the ORELA Middle Grades Social Science: Practice & Study Guide course