Macro Unit 2 Intro: Measuring the Economy

Mr. Clifford provides an overview of macroeconomics, focusing on measuring the economy. He explains the importance of understanding economic growth, stable prices, and unemployment. Key concepts include GDP, the business cycle, inflation, and the natural rate of unemployment. The video emphasizes learning these concepts before moving on to more complex topics in the next unit.

Explain the concept of the business cycle as described in the overview.

What is the natural rate of unemployment, and why is it important?