2. Begin

3. Graphs Threats to Economy GDP Laws & Policies Formulas Key Terms

4. C1-$100 - $100 Answer: What is resources thatt are not limited and are not available in sufficient quantities to satisfy needs. What is scarcity?

5. C1-$200 - $200 What is Structural Unemployment? Answer: What is unemployment resulting from industrial reorganization due to technological change.

6. C1-$300 - $300 What does MPC stand for? Answer: What is the marginal propensity to consume.

7. C1-$400 - $400 True of False: Does the Crowding Out Effect occur when increased gov’t borrowing occurs to reduce investment spending Answer: What is True.

8. C1-$500 - $500 k What is Inflation Rate? Answer: What is the percent change per year in price index typically the consumer price index.

9. C2-$100 - $100 When of curve is this? Answer: What is Concave Curve.

10. C2-$200 - $200 This curve is a? Answer: What is PPC Curve.

11. C2-$300 - $300 Is this an MPC or MPS Curve? Answer: What is MPC?

12. C2-$400 - $400 Is A or B an AS Curve? Answer: What is B

13. C2-$500 - $500 Which one is an LRAS Curve? Answer: The blue line.

14. C3-$100 - $100 True or False: A cause if inflation is that it bring the value of a dollar up ? Answer: False. Inflation causes the value of a dollar down

15. C3-$200 - $200 During Deflation who is the one to benefit from the event, the one who lent out money or the one borrowing money? Answer: What is the ones who are lenders.

16. C3-$300 - $300 If a decrease in capital goods occur what does it do to production of other goods ? Answer: What is the decrease in consumer good as well because capital goods are used for final consumerism.

17. C3-$400 - $400 What can Stagflation do? Answer: What is the evidence of high inflation combined with high unemployment and stagnant demand in economy.

18. C3-$500 - $500 What type of unemployment ideal affect the employment rate that arises from frictional and structural unemployment? Answer: What the Natural Rate of Unemployment.

19. C4-$100 - $100 Define GDP. Answer: What is the Gross Domestic Product that is the total value of all final goods and services produced in the economy during a given year..

20. C3-200 - $200 A GDP per capital is defined as a? Answer: What is the GDP percent by the size of the population; it is the equivalence to the average GDP per person.

21. C3-$300 - $300 True or False: Nominal GDP measures some of the values of all final goods and services during a given year? Answer: What is False. It measures all values of goods and services during a given year.

22. C3-$400 - $400 What is Real GDP? Answer: What is the total value of all final goods and services produced in the economy during a given year, calculating the selected base year.

23. C3-$500 - $500 What laws can GDP go by? Answer: What is the Law of Demand and law of Supply.

24. C4-$100 - $100 What is the Law of Demand? Answer: What is the higher prices go the demand drops (an inverse/ negative relationship).

25. C4-$200 - $200 What can the Fiscal Policy do? Answer: What is when the gov’t adjusts its spending levels and taxes to monitor or influence economy.

26. C4-$300 - $300 Who controls what when it comes to the Monetary Policy? Answer: What is the bank who can control prices for any type of group or organization.

27. C4-$400 - $400 True of False: The Expansionary Policy no expand the money supply to encourage economic growth or combat inflation Answer: What is False. It can expand.

28. C4-$500 - $500 When speaking of the Law of Supply, what are the changes that change supply? Answer: What is Prices/ Availability of inputs, Number of sellers, Technology, Gov’t Action, Opportunity Cost, Expectations of future.

29. C4-$100 - $100 C+I+G+Xn What can this formula tell you? Answer: What is GDP.

30. C4-$200 - $200 How is Real GDP measured? Answer: What is Nominal GDP over GDP deflator multiplied by 100.

31. C4-$300 - $300 How is nominal GDP measured? Answer: What is the quantity of various goods produced in nation times their current price added together

32. C4-$400 - $400 What is the multiplier formula? Answer: What is 1/1- MPC or 1/MPS.

33. C4-$500 - $500 How is the Unemployment Rate recorded? Answer: What the Number of Unemployment/ Number in Labor Force x 100.