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Macroeconomic Principles: GDP, Supply and Demand, Unemployment, and Trade Concepts

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Economics - Macroeconomics

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georgepetenjk Created by 10 mon ago

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Cards in this deck(28)
Which of the following components of GDP will be impacted the most by low wealth?
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If the real GDP is $10 billion and the nominal GDP is $5 billion, what is the price index?
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Which of the following will lead to an increase in the Long-Run Aggregate Supply (LRAS)?
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What happens to the Short-Run Aggregate Supply (SRAS) when businesses expect high inflation?
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What is the name for a decrease in Short-Run Aggregate Supply (SRAS) due to rising costs?
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What will happen to the unemployment rate if people have given up looking for work for more than 30 days?
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What is economic growth primarily driven by?
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If there is a trade deficit (imports are greater than exports), what can be done to change this?
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Which of the following policies is used to fight inflation or balance the budget, but is not normally popular?
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A man makes a profit off of a hotel in the Philippines. How is this recorded in the balance of payments?
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A German man purchases a US stock bond. How is this transaction recorded?
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A woman in Chicago sends money to her friend in Canada. How is this transaction recorded?
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Paying $50 for a haircut is an example of which component of GDP?
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Ford has unsold inventory. Which component of GDP does this represent?
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A person in China buys a car made in Texas. Which component of GDP does this transaction affect?
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Mr. Gallo buys $1,000 worth of stocks. How is this transaction classified in GDP?
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What happens to the value of the USD when there is an increase in its supply in the foreign exchange market?
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What is the effect on the USD when the US has higher interest rates compared to other countries?
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What happens to the USD when Americans are traveling to Paris in large numbers?
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What happens to the Short-Run Aggregate Supply (SRAS) when businesses have high inflationary expectations?
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What is the effect on the Long-Run Aggregate Supply (LRAS) due to technology improvements?
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What happens to the Short-Run Aggregate Supply (SRAS) when there are lower costs of commodities and resources?
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What is the effect on the Long-Run Aggregate Supply (LRAS) due to true economic growth?
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What phase of the economy is represented by a graph showing rising GDP and employment?
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What policy should the federal government use to reduce inflation?
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What is the required reserves if a bank has $10,000 in deposits and there's a 10% reserve requirement?
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What are the excess reserves if a bank has $10,000 in deposits, $1,000 in required reserves, and $7,000 in loans?
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If there's a $1,500 withdrawal from a bank with $10,000 in deposits and a 10% reserve requirement, what are the required reserves now?
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