Explain why economists use GDP, inflation, and unemployment to assess
the economys health.

Discuss why sustained increases in living standards are historically recent.

Identify why saving and investment promote higher living standards.

Explain why shocks and sticky prices are responsible for short-run
fluctuations in output and employment.

Characterize the degree to which various prices are sticky.

Explain why economists use different macroeconomic models for different
time horizons.