AP Macro: Unit 3 Review

The MPC is 0.8. If the government increases spending by $300 and exports decline by $25, at most GDP will:

What explains why the long-run aggregate supply curve corresponds to the production possibilities curve?

Based on the AD-AS graph shown, which one of the following statements is true?

The economy is at full-employment equilibrium in the graph shown. Which of the following would lead to stagflation?

RANDOM! Zion National Park is located in which one of the following states?

RANDOM! The Italian dish 'risotto' has which main ingredient?

What level of additional government spending is necessary to reach full employment output?

RANDOM! Which U.S. President did astronaut Neil Armstrong meet after returning from the moon?

RANDOM! What is measured using a hygrometer?

Which of the following are the most likely short-run effects of an increase in government expenditures?

RANDOM! The ram is the symbol of which sign of the zodiac?

Which of the following statements best describes the concept of an automatic stabilizer?

With an upward-sloping aggregate supply curve, an increase in aggregate demand in the short run will:

If there is a decrease in the SRAS curve and no changes in fiscal policy is implemented, the economy over time will:

Which of the following will shift the aggregate demand curve to the right?

RANDOM! In Greek mythology, The Minotaur is a creature that is half-man and half-____________.

A decrease in resource prices/wages will cause which of the following to occur in the short run?

If there is an inflationary gap, which of the following changes will move the economy back toward full employment?

Which of the following is an example of an automatic stabilizer?

RANDOM! Who is Harry Potter's godfather?

Which of the following will most likely result from a decrease in government spending?

Which of the following best describes aggregate supply?

RANDOM! Which US city was most often associated with the 1990s grunge scene?

When an economy is in equilibrium at potential gross domestic product, the actual unemployment rate is:

RANDOM! Pictured below is the flag of which state?

In the AD−AS model shown, which of the following is true?

Which of the following must be true in the long run?