About This Chapter
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- Calculate real GDP using the GDP deflator.
- Define full employment GDP.
- Use the business cycle concept to explain economic performance over time.
- Compare and contrast recessions and depressions.
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 the Census? - Definition & Purpose
In this lesson, we will explain what the census is. We will then look at the purpose of the census and see who participates in it. The lesson will wrap up with a conclusion and a quiz.
6. What is Econometrics? - Definition, Principles & Models
In this lesson we will define econometrics, identify its uses, and explain some basic formulas used to create models. We will also explore the range of uses for econometric models.
7. Plowback Ratio in Finance: Definition & Formula
In this lesson, you will learn the definition and formula of the plowback ratio, also known as the retention ratio. We will work through some examples and discuss some reasons companies reinvest earnings versus paying dividends.
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Other chapters within the College Macroeconomics: Tutoring Solution course
- Macroeconomics - the Production Possibilities Curve: Tutoring Solution
- Comparative Advantage, Specialization and Exchange: Tutoring Solution
- Demand, Supply and Market Equilibrium: Tutoring Solution
- Measuring the Economy: Tutoring Solution
- Inflation Measurement and Adjustment: Tutoring Solution
- Understanding Unemployment: Tutoring Solution
- Aggregate Demand and Supply: Tutoring Solution
- Inflation and Unemployment: Tutoring Solution
- Economic Growth and Productivity: Tutoring Solution
- Money, Banking, and Financial Markets: Tutoring Solution
- Central Bank and the Money Supply: Tutoring Solution
- Fiscal and Monetary Policies: Tutoring Solution
- Foreign Exchange and the Balance of Payments: Tutoring Solution
- Inflows, Outflows, and Restrictions: Tutoring Solution