Begin By: Vinh Nguyen

$100 $200 $300 $400 $500 Shifters of Demand The Law of Demand SupplyUnemploymentGDPShifters Of Supply

C1-$100 - $100 - $100 The supply graph will shift in this direction if the cost to produce goes up What is left

C1-$200 - $200 Technological improvements will shift the supply graph in this direction What is right

C1-$300 - $300 If expectations improve in the supply, the supply curve will shift What is left

C1-$400 - $400 If income goes down, the supply curve will shift What is left

C1-$500 - $500 An increase in the capital stock will cause the long-run aggregate supply curve to shift What is right

C2-$100 - $100 If people start favoring a different product, the demand curve will shift What is left

C2-$200 - $200 If the price of related goods goes up, the supply graph will shift in this direction What is left

C2-$300 - $300 If expectations go down, the demand curve will shift in this direction What is left

C2-$400 - $400 If income goes down, the demand curve will shift in this direction What is left

C2-$500 - $500 If the input cost of producing an item increasing, the supply curve will shift in this direction What is left

C3-$100 - $100 This states that as a person consumes additional units of a good, the utility gained from each additional unit decreases What is the law of diminishing utility

C3-$200 - $200 This states that as the price of a good increases, the quantity demanded of the good decreases What is the Law of Demand

C3-$300 - $300 This is a good for which demand falls as income rises What is an inferior good

C3-$400 - $400 This occurs when consumers react to an increase in a good’s price by consuming less of that good and more of substitute goods What is the substitution effect

C3-$500 - $500 This happens when a lower price increases the real purchasing power of the consumer, allowing them to purchase more What is the income effect

C4-$100 - $100 This is an unusual economic situation in which an economy is suffering both from inflation and stagnation What is stagflation

C $200 This is the relationship between the quantity of real GDP and the price level when the money wage rate remains constant What is short-run aggregate supply

C3-$300 - $300 A change in the quantity supplied of a good that is the result of a change in that good’s price causes this What is movement along the supply curve

C3-$400 - $400 This states that as the price of a good or service increases, the quantity of goods or services offered by suppliers increases What is the law of supply

C3-$500 - $500 This is anything used to produce a good or service What is input

C4-$100 - $100 This type of unemployment is when individuals are qualified workers with transferable skills are out of work What is frictional unemployment

C4-$200 - $200 This type of unemployment results from economic downturns What is cyclical unemployment

C4-$300 - $300 This type of unemployment means we have the natural rate of unemployment or no cyclical unemployment What is full unemployment

C4-$400 - $400 This type of unemployment is when changes in the structure of the labor force make some skills obsolete What is structural unemployment

C4-$500 - $500 Calculating unemployment rate can be done using this formula What is (unemployed/labor force) x 100

C4-$100 - $100 This is the dollar value of all final goods and services produced within a country’s border in one year What is GDP

C4-$200 - $200 These are the four components of GDP What are consumer spending, investments, government spending and net exports

C4-$300 - $300 This type of GDP adjusts for inflation What is Real GDP

C4-$400 - $400 In times of a recession, this will occur to the Real GDP What is decrease

C4-$500 - $500 This formula is used to calculate real GDP What is (Nominal GDP/Price Index) x 100