
AP Macro Unit 3
Authored by John Robinson
Social Studies
12th Grade

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25 questions
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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
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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