<p> AP Macroeconomics Unit 2, Measuring the Economy, Inflation and Unemployment</p><p>Chapters 7 and 8. McConnell-Brue, 15th Ed.</p><p> Students will be able to calculate GDP from the expenditure approach and the income approach.  Students will understand the difference between nominal numbers and real numbers.  Students will be able to explain the patterns of economic activity known as the business cycle and analyze the types of economic instability that occurs.  Students will be able to differentiate between types of unemployment.  Students understand the concept of the natural rate of unemployment in an economy.  Students will understand the construction of a price index.  Students will be able to calculate price index numbers and rates of inflation.  Students will be able to evaluate the impact of unexpected inflation on economics decisions.</p><p>Monday Tuesday Wednesday Thursday Friday January 9 10 11 12 13 What is GDP? Real vs Nominal Business Cycle Practice What is counted? Numbers Unemployment Problem Set Expenditure & Inflation Okuns Law Income Approach Inflation types to Counting GDP Notes p. 15-17</p><p>Notes p. 13-14 Notes p. 16-28</p><p>16 17 18 19 20</p><p>NO SCHOOL Unit 2 Test </p>