AP Macro Unit 3

AP Macro Unit 3

12th Grade

25 Qs

quiz-placeholder

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AP Macro Unit 3

AP Macro Unit 3

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

John Robinson

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Interest Rate Effect

“Sticky Wages” prevents wages from falling. The government should deficit spend to close the gap.

Price levels effect purchasing power which effects spending

When U.S. price levels rise, then GDP decreases due to an increase in imports and a decrease in exports.

Price levels and economy will fix itself. No Government involvement required

When price levels increase, lenders need to charge higher interest rates which decreases consumer and business investment spending.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Foreign Trade Effect

“Sticky Wages” prevents wages from falling. The government should deficit spend to close the gap.

Price levels effect purchasing power which effects spending

When U.S. price levels rise, then GDP decreases due to an increase in imports and a decrease in exports.

Price levels and economy will fix itself. No Government involvement required

When price levels increase, lenders need to charge higher interest rates which decreases consumer and business investment spending.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Keynesian Theory

“Sticky Wages” prevents wages from falling. The government should deficit spend to close the gap.

Price levels effect purchasing power which effects spending

When U.S. price levels rise, then GDP decreases due to an increase in imports and a decrease in exports.

Price levels and economy will fix itself. No Government involvement required

When price levels increase, lenders need to charge higher interest rates which decreases consumer and business investment spending.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Inflationary Gap

Output is low and unemployment is more than NRU. Actual GDP is below potential GDP.

Laws that reduce inflation, decrease GDP (Close an Inflationary Gap) –G or + taxes (- C)

Output is high and unemployment is less than NRU. Actual GDP is above potential GDP.

A gap with higher prices and a decrease in GDP

Laws that reduce unemployment and increase GDP (Close a Recessionary Gap) + G or – taxes (+C)

5.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Media Image

Check all that apply: Which THREE graphs show the Money Market?

Graph B

Graph A

Graph C

Graph D

Graph AB

6.

DROPDOWN QUESTION

1 min • 1 pt

The formula C+I+G+X represents ​ (a)   .

Gross Domestic Product

Nominal Imports

Nominal Exports

Gross International Product

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is the study of the nations economy as a whole.

Microeconomics

National economy

National output

Macroeconomics

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