2. Begin

3. $100 $200 $300 $400 $500 Which way Does a Supply Curve Shift? Graphs Unemployment GDP Random Which way Does a demand Curve shift?

4. C1-$100 - $100 If income goes up, demand curve shifts… Right

5. C1-$200 - $200 If prices of related goods go up, the demand curve shifts…. Left

6. C1-$300 - $300 If the preference for a product changes to another product, the demand curve shifts… Left

7. C1-$400 - $400 If income goes down, the demand curve shifts… Left

8. C1-$500 - $500 If expectations go down, the demand curve will shift… Left

9. C2-$100 - $100 If expectations improve, the supply curve will shift… Left

10. C2-$200 - $200 If cost to produce goes up, the supply curve will shift… Left

11. C2-$300 - $300 If expectations lower, the supply curve will shift… Right

12. C2-$400 - $400 If the cost to produce lowers, the supply curve will shift… Right

13. C2-$500 - $500 If technology improves, the supply curve will shift… Right

14. C3-$100 - $100 Demand Graph

15. C3-$200 - $200 Real GDP

16. C3-$300 - $300 SRAS Curve

17. C3-$400 - $400 AD Graph

18. C3-$500 - $500 LRAS Graph

19. C4-$100 - $100 What term is equal to the sum of the employed and the unemployed? Labor Force

20. C3-200 - $200 What is the unemployment that arises from the effects of frictional and structural unemployment? Natural Rate of Unemployment

21. C3-$300 - $300 What is the name of the unemployment that results from their being more people seeking for jobs than there are jobs available? Structural Unemployment

22. C3-$400 - $400 What is the type of unemployment that is the result of economic downturns? Cyclical unemployment

23. C3-$500 - $500 What type of unemployment is due to the time workers spend in job search? Frictional Unemployment

24. C4-$100 - $100 What is the monetary value of all final goods and services produced within a country’s borders in one year? GDP

25. C4-$200 - $200 What are the four components of GDP? Consumer spending, investments, government spending and net exports

26. C4-$300 - $300 Nominal GDP What kind of GDP is the total goods and services produced in the economy during a given year, calculated with the prices current in the year in which output is produced?

27. C4-$400 - $400 What is the GDP Deflator? For a given year is 100 times the ratio of Nominal GDP to the Real GDP in that year.

28. C4-$500 - $500 What three things are not included in GDP? Non-market (Illegal) activities, Nonproduction transactions and Intermediate goods

29. C4-$100 - $100 What kind of curve is curved inward in the middle? Concave curve

30. C4-$200 - $200 What is the name of a market place for the exchange of labor, capital and raw materials? Resource Market

31. C4-$300 - $300 What do you call services that are sold to the final user? Final goods and services

32. C4-$400 - $400 What is the term used for the measure of the cost of the final market basket of a typical urban American family? Consumer price index

33. C4-$500 - $500 What is the term used for all the goods and services that buyers are able and willing to buy at different price levels? Aggregate Demand