6.06

1.Discuss real and nominal GDP. Notice similarities and differences and also explain why not to use GPD.

2.Describe the types of information economists use to forecast the business cycle and how they use this information to make predictions.

3.Describe two types of unemployment and provide an example of each.

4. Define gross domestic product and explain the two methods to measure it. Also provide an example.

5. Describe the four phases of the business cycle with 3 situations.

6. Explain how the government calculates the unemployment.

7.Defin inflation and explain how it is used as a measure of economic performance with a example.