Macroeconomics exam - Study guides, Class notes & Summaries

Macroeconomics Exam Questions With Verified Solutions 1) Over a long period of time, perhaps many years, changes in real GDP come primarily from A) leftward shifts of the AD curve. B) upward shifts of the AE curve. C) upward shifts of the AS curve. D) continuous increases in potential GDP. E) rightward shifts of the AD curve. - answerD 2) In the long run, changes in average material living standards are best shown by A) population growth. B) improvements in monetary policy. C) growth ...

Movement on Short-Run Phillips Curve CORRECT ANSWER Shift in AD (graph movement is in opposite direction) Shift of Short-Run Phillips Curve CORRECT ANSWER Shift in SRAS (shift is in opposite direction) Factors of Production CORRECT ANSWER 1. Land 2. Labor 3. Capital 4. Technology Shifters of Demand for Loanable Funds CORRECT ANSWER 1. Incentive to Invest 2. Contractionary Fiscal Policy (to the right) Shifters of Supply of Loanable Funds CORRECT ANSWER 1. Incentive to Save 2. Mon...

AP Macroeconomics Terms Exam Questions and Answers

Test Bank for Principles of Macroeconomics 10e 10th Edition by N. Gregory Mankiw. Full Chapters test banks are included with answers (Chapter 1 to 24 included) Part I: INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. 3. Interdependence and the Gains from Trade. Part II: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and Its Application. 6. Supply, Demand, and Government Policies. Part III: MARKETS AND WELFARE. 7. Consumers, Prod...

AP Macroeconomics Exam Questions Correct Answers Current Update (A+ Pass) Economics - Answers - The social science that studies how individuals, institutions, and society make the optimal best choices under conditions of scarcity Microeconomics - Answers - Specific units in the economy (ex: how prices and output are determined for products and how customers react to price changes)d Macroeconomics - Answers - the study of economy-wide phenomena, including inflation, unemployment, and eco...

AP Macroeconomics Exam Review questions and answers 2024 latest update graded A+

Macroeconomics Exam Questions With 100% Correct Answers What is GDP? - answer(gross domestic product) the total dollar value of all final goods and services produced within the country's borders in a given year. Important features of GDP: - answerdollar value goods and services final products, within a country's borders, and in a given year 4 categories of spending: - answerconsumption investment government purchases Xnet (net exports) Suppose a house is built and sold in the year ...

Macroeconomics Exam Questions With 100% Correct Answers What is GDP? - answer(gross domestic product) the total dollar value of all final goods and services produced within the country's borders in a given year. Important features of GDP: - answerdollar value goods and services final products, within a country's borders, and in a given year 4 categories of spending: - answerconsumption investment government purchases Xnet (net exports) Suppose a house is built and sold in the year ...

AP Macroeconomics Definitions Exam Questions and Answers

aggregate demand curve - correct answer a curve depicting the relationship between real GDP demanded (i.e., expenditures) and the price level in the economy; the aggregate demand curve slopes downward from left to right. aggregate supply curve - correct answer a curve defining the relationship between real production and price level. business cycles - correct answer fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus - correct answer the ...