L1 17 Aggregate Output, Prices, and Economic Growth
By: Steven Popovic
A Calculate and explain GDP as expenditure and income, B, C,
D Compare GDP, National Income, Personal Income, and Personal Disposable Income,
E Explain the fundamental relationship among saving, investment, the fiscal balance, and trade balance
A Describe the Business Cycle and Its Phases,
B Describe how resource use, housing sector acticity, and external trade sector activity vary as an economy moves through the business cycle,
C Describe Theories of the Business Cycle