D 32 macroeconomics
unit 2 questions
I. Suppose Smith pays $l00 to Jones.
A) We can say with certainty that the GDP has increased by S IOO.
/Br We can say with certainty that the GDP has increased. but we cannot determine the amount.
Cl" We can say with c
Basic Changes in Supply and Demand,
Quantity Supply and Quantity Demanded
Match the description given with the graphs from the basic graphing handout.
Show the FIRST change that would occur in the requested market. Watch for
substitute goods and
In the early 21" Century, here in the USA:
An efcient, full employment economy will probably have:
1. an annual unemployment rate of %.
2. an annual inflation rate of. a %.
If the economy goes into recession:
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Beating the Traffic
M big cities have traffic problems. and many
e]; MACROECONOMICS 4* r,
, | Section] '
V" I I Time70 minutes _ I
Direction: Eachot' the questions or incomplete statements below is followed by ve suggested answers or
completions. Select the one that is best in each case and plac
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consists of changes in government spending and tax collections to achieve
full employment, control ination, and encourage economic growth; 2 types of scal
policies: expansionary (during recession) and contractionary
What does GDP stand for?
What does GDP mean?
What are the two ways to calculate GDP?
why are intermediate goods not counted in GDP?
h intermediate goods and final goods towards GDP?
What is the term used to describe counting bot
nd for, and what do th
Chi l-S Review
Please answer on your own paper.
What is economics?
What is the difference between productive and allocative effiCiency?
What role does margin