1. CHAPTER 12 & 13 ECONOMIC PERFORMANCE

2. GROSS DOMESTIC PRODUCT TOTAL DOLLAR VALUE FINAL GOODS AND SERVICES NEW ONLY

3. GDP EXPENDITURE MEASUREMENT CONSUMER GOODS AND SERVICES PURCHASED + BUSINESS GOODS PURCHASED + GOVERNMENT GOODS + NET EXPORTS

4. GDP INCOME MEASUREMENT WAGES + INTEREST + RENTS + BUSINESS PROFIT

5. INFLATION RISE IN GENERAL PRICE LEVEL –DEFLATION?

6. CAUSES OF INFLATION DEMAND-PULL COST-PUSH WAGE-PRICE SPIRAL EXCESSIVE MONETARY GROWTH

7. EFFECTS OF INFLATION PURCHASING POWER DOWN SPENDING HABITS SPECULATION INCREASE DISTRIBUTION OF INCOME

8. MEASURING INFLATION CONSUMER PRICE INDEX –MARKET BASKET PRODUCER PRICE INDEX EMPLOYMENT COST INDEX INTERNATIONAL PRICE PROGRAM

9. Aggregate Supply and Aggregate Demand

10. BUSINESS CYCLE PEAK/BOOM CONTRACTION TROUGH EXPANSION

11. RECESSION vs. DEPRESSION

12. BUSINESS FLUCTUATIONS INVESTMENT GOVERNMENT ACTIVITY EXTERNAL FACTORS PSYCHOLOGICAL FACTORS

13. IN THE WORKFORCE LABOR FORCE –OVER 16 –LOOKING FOR JOB

14. NOT IN THE WORKFORCE DISABLED ILL HOMEMAKER RETIREE DISCOURAGED UNDEREMPLOYED

15. FIGURING UNEMPLOYMENT UNEMPLOYMENT RATE ____________________ LABOR FORCE PARTICIPATION RATE

16. TYPES OF UNEMPLOYMENT FRICTIONAL –seasonal STRUCTURAL CYCLICAL

17. UNEMPLOYMENT BENEFITS Who is eligible?

18. Poverty Rate Income distribution Income gap Anti-poverty policies –Earned Income Tax Credit –Employment Assistance –Housing Assistance –Welfare Reform