Economics (McConnell), AP* Edition, 20th EditionChapter 27:
Business Cycles, Unemployment, and Inflation After studying this chapter, you should be able to: LO 27.1 | Describe the business cycle and its primary phases. | LO 27.2 | Illustrate how unemployment is measured and explain the different types of unemployment. | LO 27.3 | Explain how inflation is measured and distinguish between cost-push inflation and demand-pull inflation. | LO 27.4 | Relate how unanticipated inflation can redistribute real income. | LO 27.5 | Discuss how inflation may affect the economy's level of real output. |
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