Econ 101 Paper
Upon first playing the game I was a bit confused as to how to play, giving it three times until I finally
figured out how to control anything. The first two times I played I dipped below 1% inflation and had
1. Inflation is defined as an increase in
a. real wages of workers.
b. real GDP.
c. the average price level.
d. all consumer products.
a. Incorrect. Inflation concerns the average price level of products-not wages.
b. Incorrect. I
Aggregate Demand and Supply
1. The aggregate demand curve shows how real GDP purchased varies with changes in
c. the price level.
d. the interest rate.
a. Incorrect. The aggregate demand curve shows how real GDP