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Macroeconomics Exam One Study Guide: GDP, Unemployment, Inflation, and Economic Growth

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Expenditure Approach for Measuring GDP

Nominal GDP and Real GDP

Other Measures of Total Production and Total Income

Labor Force and Unemployment

Types of Unemployment

Inflation and Consumer Price Index (CPI)

Using CPI to Adjust for Inflation

Nominal Interest, Real Interest, and the Fisher Equation

Costs of Inflation: Shoe-leather Costs and Menu Costs

Long-Run Economic Growth

Growth Rates and the Rule of 70

Investment, Savings, and the Financial System

Business Cycles and Their Characteristics