Begin $100 $200 $300 $400 $500 Which way Does a Supply Curve Shift? Graphs Unemployment GDP Random Which way Does a demand Curve shift?

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Begin

$100 $200 $300 $400 $500 Which way Does a Supply Curve Shift? Graphs Unemployment GDP Random Which way Does a demand Curve shift?

C1-$100 - $100 If income goes up, demand curve shifts… Right

C1-$200 - $200 If prices of related goods go up, the demand curve shifts…. Left

C1-$300 - $300 If the preference for a product changes to another product, the demand curve shifts… Left

C1-$400 - $400 If income goes down, the demand curve shifts… Left

C1-$500 - $500 If expectations go down, the demand curve will shift… Left

C2-$100 - $100 If expectations improve, the supply curve will shift… Left

C2-$200 - $200 If cost to produce goes up, the supply curve will shift… Left

C2-$300 - $300 If expectations lower, the supply curve will shift… Right

C2-$400 - $400 If the cost to produce lowers, the supply curve will shift… Right

C2-$500 - $500 If technology improves, the supply curve will shift… Right

C3-$100 - $100 Demand Graph

C3-$200 - $200 Real GDP

C3-$300 - $300 SRAS Curve

C3-$400 - $400 AD Graph

C3-$500 - $500 LRAS Graph

C4-$100 - $100 What term is equal to the sum of the employed and the unemployed? Labor Force

C $200 What is the unemployment that arises from the effects of frictional and structural unemployment? Natural Rate of Unemployment

C3-$300 - $300 What is the name of the unemployment that results from their being more people seeking for jobs than there are jobs available? Structural Unemployment

C3-$400 - $400 What is the type of unemployment that is the result of economic downturns? Cyclical unemployment

C3-$500 - $500 What type of unemployment is due to the time workers spend in job search? Frictional Unemployment

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

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

C4-$300 - $300 Nominal GDP What kind of GDP is the total goods and services produced in the economy during a given year, calculated with the prices current in the year in which output is produced?

C4-$400 - $400 What is the GDP Deflator? For a given year is 100 times the ratio of Nominal GDP to the Real GDP in that year.

C4-$500 - $500 What three things are not included in GDP? Non-market (Illegal) activities, Nonproduction transactions and Intermediate goods

C4-$100 - $100 What kind of curve is curved inward in the middle? Concave curve

C4-$200 - $200 What is the name of a market place for the exchange of labor, capital and raw materials? Resource Market

C4-$300 - $300 What do you call services that are sold to the final user? Final goods and services

C4-$400 - $400 What is the term used for the measure of the cost of the final market basket of a typical urban American family? Consumer price index

C4-$500 - $500 What is the term used for all the goods and services that buyers are able and willing to buy at different price levels? Aggregate Demand