Measuring the Economy


Main idea

The business cycle refers to the ups and downs In economic activity.

Key Terms real GDP, business cycle, expansion, peak, recession, civilian labor force, unemployment rate, fiscal policy, inflation, consumer price index (CPI)

Reading Strategy Organizing Information As you read the section, Identify at least four ways that the economy can be measured by completing a diagram like the one below.

Measuring IhH Economy

Read to Learn

♦ What does the business cycle illustrate?

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