WorksheetsUnit 6 Topic 1 Review Questions
Total questions: 11
Worksheet time: 4mins
Based on the image above, what is the name of #6?
Aggregate Supply
Price Level
Aggregate Demand
Current Economic Situation
If there is an increase in Aggregate Demand, everything else remaining constant, then the Aggregate Demand curve shifts to the _____ and Real Output _____.
left; increase
right; increase
left; decrease
right; decrease
A(n) _______ in ___ would cause the following changes to occur:
- Increase in Price Level
- Increase in Unemployment
- Decrease in Real GDP
decrease; AS
increase; AS
decrease; AD
increase; AD
The graph given shows which economic situation?
Full Efficiency
Recessionary Gap
Inflationary Gap
Stagflation
Real GDP is growing at 1.2%, unemployment is at 6.3%, and inflation is at 0.8%. What does this indicate?
Inflationary Gap
Recessionary Gap
Full Efficiency
StagFlation
With a real GDP growth rate of -0.5%, unemployment at 7.8%, and inflation at 3.5%, which economic situation best describes this scenario?
Full Efficiency
Recessionary Gap
Inflationary Gap
Stagflation
The U.S. economy has a real GDP growth rate of 3%, an unemployment rate of 5%, and an inflation rate of 2%. What economic situation is the country experiencing?
Full Efficiency
Recessionary Gap
Inflationary Gap
Stagflation
Real GDP growth is 3.6%, unemployment is 4.7%, and inflation is 2.0%. What economic condition does this reflect?
Full Efficiency
Recessionary Gap
Inflationary Gap
Stagflation
Real GDP is growing at 3.1%, the unemployment rate is 4.6%, and inflation is at 2.4%. What does this indicate?
Full Efficiency
Full Efficiency
Inflationary Gap
Inflationary Gap
Stagflation
Stagflation
The economy has a real GDP growth rate of -0.7%, unemployment is 7.1%, and inflation is at 3.2%. Which condition best describes this situation?
Full Efficiency
Full Efficiency
Inflationary Gap
Inflationary Gap
Stagflation
Stagflation
The economy has a 0.5% GDP growth rate, 6.5% unemployment, and 1.2% inflation. What condition is this?
Full Efficiency
Full Efficiency
Inflationary Gap
Inflationary Gap
Stagflation
Stagflation
