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AP Macro: Unit 3 - Basic Flashcards | StudBud

Explore/AP Macro: Unit 3 - Basic

AP Macro: Unit 3 - Basic

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Aggregate supply and demand , Phillips curve, mutiplier

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Questions 9

Answers

1
A shift from SRPC1 to SRPC2 is caused by?
Decrease in AS
Increase in AD
Decrease in AD
Increase in AS
2
An increase in ___ increases real GDP, which increases disposable income and ______ expenditure
investment ; consumer
demand ; business
investment ; business
supply; government
3
Which factor WILL NOT cause this change in aggregate demand.
Tax cuts
Expected future income
Increase in quantity of money
Increase in exchange rate
4
In the US at point "B" what would be the most likely unemployment rate?
5%
10%
7%
3%
5
An inflationary gap happens when real GDP ...
Exceeds potential GDP and prices decrease
Doesn't reach it's potential GDP
Is equal to Potential GDP
Exceeds potential GDP and prices rise
6
SRPC stands for?
Slow Running People Cheat
Short-Run People Cheat
Short-Run Phillips Curve
Slow Running Phillips Curve
7
This graph depicts a __________ gap .
Recessionary
Inflationary
Potential
Rising
8
On the shown graph what does the vertical line indicate?
Long Run Phillips curve
Long run Aggregate Supply
Long run Aggregate Demand
Short Run Aggregate Supply
9
Macroeconomic equilibrium occurs when the quantity of real GDP demanded equals the quantity ...
Of real GDP supplied on the Phillips curve
How many items sold and how many were supplied
Of Long run equilibrium
of real GDP supplied at the intersection of AD and AS curve