Georgia standard · Social Studies

`SSEMA1`Measuring Economic Activity

Explain the methods by which economic activity is measured.

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Expectations

SSEMA1a
Describe key economic outcomes and how they are measured including economic growth using Gross Domestic Product (GDP) and real GDP; price stability using the Consumer Price Index (CPI); and full employment using the unemployment rate.
SSEMA1b
Explain the differences between seasonal, structural, cyclical, and frictional unemployment.
SSEMA1c
Describe the stages of the business cycle and its relation to economic measurement, including: peak, contraction, trough, recovery/expansion as well as recession.

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