Goals, GDP, Economic Growth, and Inflation:
- Leakages and Injections
- Circular Flow Diagram
- Markets
- Demand Curve (Define, Why Is It Downward Sloping)
- Determinants of Demand
- Determinants of Supply
- Market Equilibrium
- Income and Expenditure Approach to Measuring GDP
- Problems with Accurately Counting GDP and Items Not Included
- GDP, National Income, GNP, and GNI
- Nominal GDP v Real GDP
- Measuring Inflation: GDP Deflator
- Measuring Inflation: CPI
- Types of Inflation
- Cost of Inflation
- Fisher Effect
- Causes of Inflation
- Business Cycle, Recession, Depression
- Calculating Economic Growth and the Rule of 70
- Economic Growth, PPF, and the Tradeoff Between Capital and Consumer Goods
- Factors that Contribute to Economic Growth
