13.1 Estimating GDP
Describe what GDP measures
Learn two ways to calculate GDP, and explain why they are equivalent
13.2 Limitations of GDP estimation
Identify types of production that GDP calculations neglect
Determine why and how to adjust GDP for changes in the general price level
13.3 Business Cycles
Distinguish between the two phases of the business cycle
Differentiate among the types of economic indicators
13.4 Aggregate Demand and Aggregate Supply
Aggregate Demand and Supply in the LONG RUN (LRAS & LRAD)
Explain aggregate output and the economy's price level
Describe the aggregate demand curve and aggregate supply curve