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Ch 42: MTEL Business: Business Cycle, GDP & Growth in Macroeconomics

About This Chapter

Review the fun video lessons in this chapter to get reacquainted with the business cycle, GDP and growth in macroeconomics. Lesson quizzes are available to test your understanding of the subject areas as you study for the MTEL Business assessment.

MTEL Business: Business Cycle, GDP & Growth in Macroeconomics - Chapter Summary

In this chapter are lessons designed to prepare you for questions on the MTEL Business assessment related to the business cycle, GDP and growth in macroeconomics. Watching the videos will ensure you're able to:

  • Discuss the business cycle and performance over time
  • Share the definitions of and differences between recession and depression
  • Provide the meaning and components of gross domestic product (GDP)
  • Explain economic growth and examine the process of raising a nation's potential output
  • Describe economic productivity and growth policy

Instructors present the lessons in an engaging manner that makes studying for the exam fun and easy. They provide you with the definitions and examples you need to fully comprehend the business cycle, GDP and more.

5 Lessons in Chapter 42: MTEL Business: Business Cycle, GDP & Growth in Macroeconomics
Test your knowledge with a 30-question chapter practice test
The Business Cycle: Economic Performance Over Time

1. The Business Cycle: Economic Performance Over Time

Economic progression has peaks and troughs as the economy fluctuates between expansion and recession. Explore the intricacies of the business cycle and how it describes economic performance over time.

Recession vs. Depression: Definitions and Differentiation

2. Recession vs. Depression: Definitions and Differentiation

The United States has experienced both recessions and depressions, but the negative economic states differ in major ways. Compare the traits of a recession and a depression and explore how to define the two types of economic downturns and how to differentiate them.

Gross Domestic Product: Definition and Components

3. Gross Domestic Product: Definition and Components

Gross domestic product (GDP) is defined as the measure of the total output of goods and services in the economy within a given period of time. Explore the components of GDP and learn how to calculate it.

Economic Growth: How to Raise a Nation's Potential Output

4. Economic Growth: How to Raise a Nation's Potential Output

Nations strive to attain a high standard of living for their citizens, and economic growth is an important indicator of how well each nation achieves this. Learn about economic growth, its advantages, and how it is measured. Understand the role of productivity in raising a nation's potential output and increasing its economic growth.

Growth Policy and Economic Productivity

5. Growth Policy and Economic Productivity

Setting fiscal policies to promote economic productivity is an important government function. Learn about fiscal policies and how the government uses them to promote economic growth through savings and investments, including investments in human capital and technology.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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More Exams
There are even more practice exams available in MTEL Business: Business Cycle, GDP & Growth in Macroeconomics.

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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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