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SL macroeconomics Flashcards | StudBud

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SL macroeconomics

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SL Economics #ib #macroeconomics

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Questions 10

Answers

1
This graph illustrates the relationship between inflation and unemployment
Circular flow model
Long-run aggregate supply curve
Phillips curve
The keynesian Multiplier
2
What is signified by a growing consumer price index?
GDP growth
structural unemployment
Deflation
inflation
3
which of the following best describes REAL GDP?
GDP factored for inequality
GDP tied to fiscal policy
GDP adjusted for inflation
GDP not adjusted for inflation
4
which of the following people would be "underemployed"?
a man who has given up looking for work
College student with an internship
full time worker seeking part time employment
part time worker who is seeking full time employment
5
which of the following is true about the GDP/Unemployment relationship?
higher unemployment leads to GDP growth
There is no relationship
Higher unemployment leads to below potential GDP
lower unemployment means above average nominal GDP
6
Which of the following IS NOT an example of a tax rate?
Progressive
regressive
transgressive
proportional
7
The chart/graph that illustrates the ups and downs of the macroeconomy
Monetarist
Phillips curve
Laffer curve
Business cycle
8
Unemployment due to downturns in the business cycle is called what?
structural unemployment
Business opportunity unemployment
seasonal unemployment
cyclical unemployment
9
Which two models are used to illustrate aggregate supply and demand?
Neo-classical and Keynesian
Veblen and Keynesian Models
Lorenz curve and austrian
LRAS gotham curve
10
Which of the following is considered by economists to be a cause of poverty?
unemployment
Infant mortality rates
uncontrolled aggregate demand
low living standards