Search Header Logo
Macroeconomic Concepts and Graphs

Macroeconomic Concepts and Graphs

Assessment

Interactive Video

Other

9th - 12th Grade

Practice Problem

Hard

Created by

Patricia Brown

FREE Resource

Mr. Clifford introduces key macroeconomic concepts such as recession, full employment, and inflation. He explains how these concepts are represented on various economic graphs, including the Phillips curve, business cycle, and production possibilities curve. The video guides students through identifying recessionary and inflationary gaps and understanding full employment using these graphs.

Read more

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three key concepts introduced in macroeconomics?

Profit, loss, balance

Growth, stability, decline

Supply, demand, equilibrium

Recession, full employment, inflation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is a recessionary gap represented on the Phillips curve?

Low inflation, low unemployment

High inflation, high unemployment

High inflation, low unemployment

High unemployment, low inflation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does point A indicate on the production possibilities curve during a recession?

Unemployment or inefficiency

Inflationary pressure

Efficient use of resources

Full employment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to unemployment when aggregate demand shifts to the right?

Unemployment remains constant

Unemployment becomes zero

Unemployment decreases

Unemployment increases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where is point B located on the business cycle graph when the economy is at full employment?

Above the trend line

Far from the trend line

On the trend line

Below the trend line

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does an inflationary gap indicate about current output?

Output is beyond full employment

Output is at full employment

Output is at zero employment

Output is below full employment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the natural rate of unemployment considered to be?

0%

10%

2-3%

4-6%

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?