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Yennifer Castellon Period 2 Macro Begin Yennifer Castellon Period 2 Macro Begin

Unit 1 Unit 2 Unit 3 All Around Graphs $100 $100 $200 $200 $300 Unit 1 Unit 2 Unit 3 All Around Graphs $100 $100 $200 $200 $300 $300 $400 $400 $500 $500 Summer Work

Summer Work- $100 The demand for what shifts when there are changes in GDP? Summer Work- $100 The demand for what shifts when there are changes in GDP? Demand for money

Summer Work- $200 Increasing the money supply lowers interest rates why? Because surplus money Summer Work- $200 Increasing the money supply lowers interest rates why? Because surplus money moves into the bond market,

Summer Work- $300 Points above full employment indicate what? They indicate an overheated economy Summer Work- $300 Points above full employment indicate what? They indicate an overheated economy with inflationary problems.

Summer Work- $400 Other countries want U. S. goods when? A. B. C. D. Summer Work- $400 Other countries want U. S. goods when? A. B. C. D. Ours are cheaper Our inflation is less than theirs Our interest rate is higher The other country is growing faster

Summer Work- $500 What are shifters of investment demand? A. B. C. D. E. Summer Work- $500 What are shifters of investment demand? A. B. C. D. E. Acquisition, maintenance, and operating cost Business Taxes Technological Change Stick of capital goods on hand Expectations

 Unit 1 - $100 Unit 1 What are capital goods? And give two Unit 1 - $100 Unit 1 What are capital goods? And give two examples. Goods intended for use in the production of other goods or services, rather than final consumption. Ex. pizza oven, oil drilling equipment

Unit 1 - $200 What is the difference between product market and resource market? Unit 1 - $200 What is the difference between product market and resource market? Product market is the market place in which a final or finished good or services is bought by consumers. While resource market is a market place for the exchange of labor, capital or raw materials.

Unit 1 - $300 This is a model that illustrates the flow of goods Unit 1 - $300 This is a model that illustrates the flow of goods and services through the economy. Circular Flow Model

Unit 1 - $400 What are four factors of production? 1. 2. 3. 4. Unit 1 - $400 What are four factors of production? 1. 2. 3. 4. Land Labor Capital Entrepreneurship

Unit 1 - $500 Which are the five determinants of demand. 1. 2. 3. Unit 1 - $500 Which are the five determinants of demand. 1. 2. 3. 4. 5. Tastes and Preferences Number of Consumers Price of related goods Income Future Expectations

Unit 2 - $100 What is GDP? The total value of all final goods Unit 2 - $100 What is GDP? The total value of all final goods and services produced in the economy during a given year.

Unit 2 - $200 What are final goods and services? Goods and services sold Unit 2 - $200 What are final goods and services? Goods and services sold to the final or end.

Unit 2 - $300 What unemployment rate arises form the effect of frictional and Unit 2 - $300 What unemployment rate arises form the effect of frictional and structural unemployment? Natural Rate of unemployment

Unit 2 - $400 Consumers buy more of a good when its price decreases Unit 2 - $400 Consumers buy more of a good when its price decreases and less when its price increases. Law of Demand

Unit 2 - $500 The principle that suppliers will normally offer more for sale Unit 2 - $500 The principle that suppliers will normally offer more for sale at higher prices and less at lower prices. Law of Supply

Unit 3 - $100 It is the total demand for final goods and services Unit 3 - $100 It is the total demand for final goods and services in the economy at a given time and price level. Aggregate Demand

Unit 3 - $200 What is aggregate supply? It is the total supply of Unit 3 - $200 What is aggregate supply? It is the total supply of goods and services that firms in a national economy plan on selling during a specific time period.

Unit 3 - $300 If aggregate demand increases and aggregated supply decreases the price Unit 3 - $300 If aggregate demand increases and aggregated supply decreases the price level: Will increase but real output is indeterminate

Unit 3 - $400 This unemployment occurs when people take time to find a Unit 3 - $400 This unemployment occurs when people take time to find a job. Frictional Unemployment

Unit 3 - $500 Unemployment that rises during economic downturns and falls when the Unit 3 - $500 Unemployment that rises during economic downturns and falls when the economy improves is? Cyclical Unemployment

All Around- $100 What is an example of a substitute. Ex. Coke and Pepsi All Around- $100 What is an example of a substitute. Ex. Coke and Pepsi

All Around- $200 What is scarcity? Resources are not unlimited and are not available All Around- $200 What is scarcity? Resources are not unlimited and are not available in sufficient quantities to satisfy all the various ways a society wants to use them.

All Around- $300 What is the difference between concave vs. convex? Concave is a All Around- $300 What is the difference between concave vs. convex? Concave is a surface that is curved inward in the middle. Convex is a surface that curved outward in the middle.

All Around- $400 What is supply shock? Is an event that shifts the short-run All Around- $400 What is supply shock? Is an event that shifts the short-run aggregate.

All Around- $500 What are the shifters of supply? 1. Prices/Availability of inputs (resources) All Around- $500 What are the shifters of supply? 1. Prices/Availability of inputs (resources) 2. Number of sellers 3. Technology 4. Govrment Action: Taxes and Subsidies 5. Opportunity Cost of Alternative Production 6. Expectations of Future Profit

Graphs- $100 What is this graph called? PPC Graphs- $100 What is this graph called? PPC

Graphs- $200 What is this graph called? PPF Graphs- $200 What is this graph called? PPF

Graphs- $300 What graph is this? Supply and Demand Graphs- $300 What graph is this? Supply and Demand

Graphs- $400 What type of graph is this? SRAS Curve Graphs- $400 What type of graph is this? SRAS Curve

Graphs- $500 What is the indicating area called? Inflationary Gap Graphs- $500 What is the indicating area called? Inflationary Gap