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AP Macroeconomics›Unit 2: Economic Indicators and the Business Cycle›Economic Indicators and the Business Cycle

Real vs. Nominal GDP and the Business Cycle

Real GDP adjusts for inflation; the business cycle swings through expansion, peak, contraction, and trough.

GDP deflator
Phases of the cycle
Output gaps

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2Economic Indicators and the Business Cycle

GDP and How It's Measured
Unemployment
Inflation and the CPI
Real vs. Nominal GDP and the Business Cycle

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Aggregate Demand and Aggregate Supply

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Also called: real gdp, business cycle