AP Macroeconomics Review

Front

Next best alternative not chosen:

Back

Opportunity cost

Front

10% wage increase causes the supply curve to shift left.

Back

supply; left

Front

Long-run Phillips curve shifts right due to:

Back

An increase in structural unemployment.

Front

Current economy of Te Rehunga represented in a graph. Point B indicates inflation and unemployment rate. Identify the graph that depicts the Phillips curve model based on the AD-AS model.

Back

Front

Movement from point 2 to point 3 on the Phillips curve indicates:

Back

A decrease in short-run aggregate supply (SRAS)

Front

Tax Multiplier = ?

Back

-MPC/MPS

Front

Money or Loan Multiplier =

Back

1/rr

Front

CPI is a measure of inflation based on the cost of a fixed market basket.

Back

A measure of inflation based on the cost of a fixed 'market basket'.

Front

Considered unemployed:

Back

A person who stayed home to raise his children and now starts looking for a job.

Front

Velocity of money in Theopolis is 3; aggregate supply is vertical at $100M. Impact of increased money supply on real output?

Back

No impact on real output.