Week 5 Economics: Principles & Daily formative National Economic Performance Practices (2007) textbook assessments on previous Explain how GDP is measured. Chapters 12 & 13 day’s learning targets. Students will understand the means Understand the importance of by which economic performance is GDP.Describe the limitations of GDP. Econlowdown.org GDP & Pizza online Understand the difference between activity. measured. real current GDP. Describe the factors affecting future E.43 Define aggregate supply and population growth. demand, Domestic Product Explain how population is estimated (GDP), economic growth, in the U.S. unemployment, and inflation. Describe how economists measure the growth of the U.S. economy. Explain the importance of economic growth. Describe the three price indices. Explain how a price index is constructed. Identify the causes and effects of inflation. E.44 Explain how Gross Domestic Describe recent trends in the inflation Product (GDP), economic growth, rate. unemployment, and inflation are Explain the effects of rising prices. Understand the use of indexes to calculated. compare changes in prices over time. Describe frictional, seasonal, structuaral, and cyclical E.46 Identify the different causes of unemployment. inflation, and explain who gains Describe how full employment is and loses because of inflation. measured. Explain why full employment does not mean that every worker is Week 6 employed.
Week 5 Week 6 National Economic Performance Students will understand the means by which economic performance is measured. E.43 Define aggregate supply and demand, Domestic Product (GDP), economic growth, unemployment, and inflation. E.44 Explain how Gross Domestic Product (GDP), economic growth, unemployment, and inflation are calculated. E.46 Identify the different causes of inflation, and explain who gains and loses because of inflation. Explain how GDP is measured. Understand the importance of GDP.Describe the limitations of GDP. Understand the difference between real current GDP. Describe the factors affecting future population growth. Explain how population is estimated in the U.S. Describe how economists measure the growth of the U.S. economy. Explain the importance of economic growth. Describe the three price indices. Explain how a price index is constructed. Identify the causes and effects of inflation. Describe recent trends in the inflation rate. Explain the effects of rising prices. Understand the use of indexes to compare changes in prices over time. Describe frictional, seasonal, structuaral, and cyclical unemployment. Describe how full employment is measured. Explain why full employment does not mean that every worker is employed. Economics: Principles & Practices (2007) textbook Chapters 12 & 13 Econlowdown.org Daily formative assessments on previous day’s learning targets. GDP & Pizza online activity.
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