AP Macro- Unit 2

AP Macro- Unit 2

Assessment

Flashcard

History

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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45 questions

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1.

FLASHCARD QUESTION

Front

What type of GDP is calculated with the current year's prices? Options: Nominal GDP, Real GDP, GDP per capita, Base Year GDP

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Back

Nominal GDP

2.

FLASHCARD QUESTION

Front

Mr. Gerlecz is quitting his job as a teacher & coach and moving to Montana. Gerlecz is.....

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Back

Frictionally Unemployed

3.

FLASHCARD QUESTION

Front

Who is most likely to be hurt by inflation? Options: someone who borrowed money, a retiree on a fixed income, a business owner, the U.S. government

Back

a retiree on a fixed income

4.

FLASHCARD QUESTION

Front

In a typical circular flow model describing the interaction of businesses and households, which of the following is/are true? I. Households buy factors of production and goods II. Firms buy factors of production and goods III. Households buy factors of production IV. Firms buy factors of production V. Firms buy goods VI. Households buy goods

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Back

Firms buy factors of production and Households buy goods.

5.

FLASHCARD QUESTION

Front

A periodic but irregular up-and-down movement of total production and other measures of economic activity.

Back

Business Cycle

6.

FLASHCARD QUESTION

Front

A general rise in overall prices is called:

Back

Inflation

7.

FLASHCARD QUESTION

Front

The market value of all the final goods and services produced within a country in a given time period.

Back

Gross Domestic Product

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