THE ADAMSON ADVENTURE
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  • AP World History
    • AP Exam Review
    • Historical Thinking Skills for AP World
    • AP World History FRQs >
      • Long-Essay-Question (LEQ)
      • Document-Based Question
    • Unit 0: Foundations
    • Unit 1: The Global Tapestry (1200-1450)
    • Unit 2: Networks of Exchange (1200-1450)
    • Unit 3: Land-Based Empires (1450-1750)
    • Unit 4: Transoceanic Interconnections (1450-1750)
    • Unit 5: Revolutions (1750-1900)
    • Unit 6: Consequences of Industrialization (1750-1900)
    • Unit 7: Global Conflict (1900-present)
    • Unit 8: Cold War & Decolonization (1900-present)
    • Unit 9: Globalization (1750-1900)
  • AP Pscyhology
    • Unit 1: Scientific Foundations of Psychology
    • Unit 2: Biological Bases of Behavior
    • Unit 3: Sensation and Perception
    • Unit 4: Learning
    • Unit 5: Cognitive Pscyhology
    • Unit 6: Developmental Psychology
    • Unit 7: Motivation, Emotion, and Personality
    • Unit 8: Clinical Psychology
    • Unit 9: Social Psychology
  • AP World Summer Assignment

Unit 4 downloads

Unit 4 Study Guide
File Size: 19 kb
File Type: docx
Download File

gdppractice.docx
File Size: 12 kb
File Type: docx
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Econ Indicators Review Handout
File Size: 14 kb
File Type: docx
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Unit 4 vocabulary

  • Unit 4 Quizlet Study Cards
UNIT 4: Economic Indicators

When a person gets a check-up, there are a number of ways for a doctor to determine if her patient is sick or healthy. Economists have a similar set of "tools" to help them determine the health of the economy. These "tools" or indicators are: GDP, unemployment, inflation (CPI), and aggregate supply and aggregate demand. If some of these terms sound new or unusual to you, that's okay! We'll be learning all about them in Unit 4. 

How do we measure economic growth? How can we determine if our economy is in the recovery phase of the business cycle? How is unemployment measured? These are all questions that are answered in Unit 4 as we discover how to determine the health of the economy through several key economic indicators. 

Unit 4 Standards Covered: 

SSEMA1 The student will illustrate the means by which economic activity is measured.
a. Explain that overall levels of income, employment, and prices are determined by the spending and production decisions of households, businesses, government, and net exports.
b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.
c. Explain how economic growth, inflation, and unemployment are calculated.
d. Identify structural, cyclical, and frictional unemployment.
e. Define the stages of the business cycle; include peak, contraction, trough, recovery, expansion as well as recession and depression.
f. Describe the difference between the national debt and government deficits

Unit 4 Key Terms: 

Know and understand the following terms in order to be successful on the Unit 4 exam! 

  • economic indicators
  • gross domestic product (GDP)
  • real GDP
  • deflation
  • inflation
  • consumer price index (CPI)
  • stagflation
  • cost-of-living-adjusting (COLA)
  • unemployment rate
  • unemployment (cyclical, frictional, structural)
  • budget
  • national debt
  • government deficit
  • business cycle
  • expansion, peak, contraction, trough
  • recession
  • depression
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