Standard 12.5

12.5 Students analyze the aggregate economic behavior of the U.S. economy:

Section 1. Distinguish between nominal and real data.

Section 2. Define, calculate, and explain the significance of an unemployment rate, the number of new jobs created monthly, an inflation or deflation rate, and a rate of economic growth.

Section 3. Distinguish between short-term and long-term interest rates and explain their relative significance.