1. Economic Indicators

2. Gross Domestic Product

3. GDP per Capita

4. Gross National Product

5. What is not calculated in the GDP

6. Real v. Nominal Wages + REAL = NOMINAL= Base Year

8. Real and Nominal Interest Rates Real: Accounts 4 Inflation rate Nominal: Rate not adjusted 4 inflation

9. Real and Nominal GDP

10. GDP Deflator w/ 100 Nominal Real Indicator of

11. CPI = Consumers Price Index

12. Market Basket: items used to track inflation

13. Inflation rate increase in price level of goods / services

14. THE COSTS OF INFLATION

15. Deflation

16. Unemployment Rate (looking but can’t find work)

17. Labor Force Participation Rate % of population--16 + older

18. Discouraged Workers

19. The Underemployed

21. Structural Unemployment

22. Cyclical Unemployment Low points/ fluctuations in cycle = cyclical unemployment

23. THE NATURAL RATE OF UNEMPLOYMENT …normal rate of employment which fluctuates… Includes…