Topic 2: Macroeconomic Data
Key Points
- Understand how GDP measures an economy’s output
- Distinguish between real and nominal variables
- Distinguish between real and nominal GDP
- Understand how the CPI and GDP Deflator measure inflation
- Be able to use unemployment measures to understand labor market conditions
Videos
GDP
Three Ways to Measure GDP
Real vs. Nominal
Real vs. Nominal Part 2
Unemployment Rates
Aggregate Labor Market Measurement
Inflation Basic Concepts