How Well GDP Measures the Well-Being of Society
- Discuss how productivity influences the standard of living
- Explain the limitations of GDP as a measure of the standard ...
Comparing GDP among Countries
- Explain how GDP can be used to compare the economic welfare of different nations
- Calculate the conversion of GDP ...
Tracking Inflation
- Calculate the annual rate of inflation
- Explain and use index numbers and base years when simplifying ...
Trade Balances and Flows of Financial Capital
- Explain the connection between trade balances and flows of financial capital
- Calculate comparative advantage
- Explain balanced trade in terms of ...
Exchange Rate Policies
- Differentiate among a floating exchange rate, a soft peg, a hard peg, and a merged currency ...
How Changes in Income and Prices Affect Consumption Choices
- Explain how income, prices, and preferences affect consumer choices
- Contrast the substitution effect and the income ...
Polar Cases of Elasticity and Constant Elasticity
- Differentiate between infinite and zero elasticity
- Analyze graphs in order to classify elasticity as constant unitary, ...
Automatic Stabilizers
- Describe how discretionary fiscal policy can be used by the federal government to stabilize the economy. ...
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