Description should include
- investigating factors contributing to reduced economic growth
- defining inflation and its causes
- defining types of unemployment
- structural
- frictional
- cyclical
- seasonal
- explaining that when total demand is greater than the value of a nation's output of final goods and services, GDP rises, inflation occurs, and/or employment rises
- explaining that when desired expenditures for consumption, investment, government spending, and net exports are less than the nation's output of final goods and services, GDP decreases and inflation and/or employment decreases
- determining the impact of unemployment on individuals and nations.