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Economic indicators and the business cycle

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Circular flow of income and expendituresParsing gross domestic productMore on final and intermediate GDP contributionsInvestment and consumptionIncome and expenditure views of GDPValue added approach to calculating GDPComponents of GDPExpenditure approach to calculating GDP examplesExamples of accounting for GDPMeasuring the size of the economy: gross domestic productLesson summary: The circular flow and GDP
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Limitations of GDPBeyond GDP: other ways to measure the economy How well GDP measures the well-being of societyLesson summary: The limitations of GDP
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Unemployment rate primerNatural, cyclical, structural, and frictional unemployment ratesLesson summary: Unemployment
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Introduction to inflationActual CPI-U basket of goodsInflation dataDeflationExample question calculating CPI and inflationStagflationDeflationary spiralTracking inflationHow changes in the cost of living are measuredHow the United States and other countries experience inflationThe confusion over inflationLesson summary: Price indices and inflation
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Winners and losers from inflation and deflation Lesson summary: The costs of inflation
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Real GDP and nominal GDPGDP deflatorExample calculating real GDP with a deflatorAdjusting nominal values to real valuesLesson summary: Real vs. nominal GDP
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The business cycleTracking real GDP over timeLesson summary: Business cycles
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About this unit

In this unit, you'll learn to identify and examine key measures of economic performance: gross domestic product, unemployment, and inflation. The concept of the business cycle also gives you an overview of economic fluctuations in the short run.