Economic Indicators and the Business Cycle
Noah Martinez
8 min read
Study Guide Overview
This study guide covers key macroeconomic concepts including the circular flow model, Gross Domestic Product (GDP) (nominal vs. real, calculation using the expenditure approach), inflation and the Consumer Price Index (CPI), the business cycle and its phases, and unemployment (labor force, types of unemployment). It also provides practice questions and exam tips focusing on GDP calculations, real vs. nominal GDP, inflation, CPI, business cycle phases, and different unemployment types.
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Question 1 of 12
Ready to ace this? 🚀 The Circular Flow Model primarily illustrates:
The stock market's daily fluctuations
The flow of money and resources between households and firms
International trade agreements
Government budget deficits