Macroeconomics exam - Study guides, Class notes & Summaries

Macroeconomics Exam Questions With Verified Solutions 1) Over a long period of time, perhaps many years, changes in real GDP come primarily from A) leftward shifts of the AD curve. B) upward shifts of the AE curve. C) upward shifts of the AS curve. D) continuous increases in potential GDP. E) rightward shifts of the AD curve. - answerD 2) In the long run, changes in average material living standards are best shown by A) population growth. B) improvements in monetary policy. C) growth ...

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AP Macroeconomics Exam Questions Correct Answers Current Update (A+ Pass) Economics - Answers - The social science that studies how individuals, institutions, and society make the optimal best choices under conditions of scarcity Microeconomics - Answers - Specific units in the economy (ex: how prices and output are determined for products and how customers react to price changes)d Macroeconomics - Answers - the study of economy-wide phenomena, including inflation, unemployment, and eco...

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AP MACROECONOMICS EXAM COMPREHENSIVE REVIEW 2024 society's virtually unlimted wants paired our scarce and limited resources create this problem - Answer>> the "economizing problem" usefulness or satisfaction - Answer>> utility all natural, human, and manufactured items that go into the production of goods and services - Answer>> economic resources they are the four factors of production (AKA economic resources) - Answer>> land, labor, capital, entrepreneurshi...

Intermediate Macroeconomics Exam II UPDATED ACTUAL Exam Questions and CORRECT Answers Model of aggregate demand and aggregate supply - CORRECT ANSWER- Long run: prices flexible, output determined by factors of production & technology, unemployment equals its natural rate Short run: prices fixed, output determined by aggregate demand, unemployment negatively related to output The Keynesian cross - CORRECT ANSWER- Closed economy model; income determined by expenditure.