AP Macro Unit 3 Vocabulary Quiz

AP Macro Unit 3 Vocabulary Quiz

12th Grade - University

22 Qs

quiz-placeholder

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AP Macro Unit 3 Vocabulary Quiz

AP Macro Unit 3 Vocabulary Quiz

Assessment

Quiz

Social Studies

12th Grade - University

Medium

Created by

Deanna Roessling

Used 32+ times

FREE Resource

22 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The shifters of aggregate supply are

Inflationary expectations

Change in resource prices

Changes in actions of the government

Changes in productivity

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The long run aggregate supply curve is vertical because...

Price level increases but GDP doesn't

GDP increases but price level doesn't

GDP decreases but price level doesn't

Price level decreases but GDP doesn't

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The long run aggregate supply curve is also known as

The natural rate of unemployment

Full-employment

The natural rate of employment

Cyclical unemployment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sum total; a collection of separate things mixed together.

Aggregate

Aggregate Demand

Aggregate Supply

Budget Deficit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A schedule or curve that shows the total quantity demanded for all goods and services of a nation at various price levels in a given period of time. It is downward sloping.

Aggregate Demand (AD)

Aggregate Supply

Short Run Aggregate Supply (SRAS)

Long Run

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The total amount of goods and services that all firms in all the industries in a country will produce at various price levels in a given period of time.

Aggregate Supply

Long Run Aggregate Supply

Aggregate Demand

Equililbrium

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Built-in mechanisms in the tax code and transfer payment programs that increase government spending and reduce tax revenue automatically when aggregate demand decreases. They reduce government spending and collect more in tax revenues when aggregate demand increases.

Automatic Stabilizers

Budget Deficit

Budget Surplus

Disposable Income

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