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AP Macroeconomics Exam with Complete Solution 2023 aggregate demand curve - a curve depicting the relationship between real GDP demanded (i.e., expenditures) and the price level in the economy; the aggregate demand curve slopes downward from left to right. aggregate supply curve - a curve defining the relationship between real production and price level. business cycles - fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus - the differ...

AP Macroeconomics Exam Review Questions and Answers A Score 1. Movement on Short-Run Phillips Curve: Shift in AD (graph move opposite direction) 2. Shift of Short-Run Phillips Curve: Shift in SRAS (shift is in oppo 3. Factors of Production: 1. Land 2. Labor 3. Capital 4. Technology 4. Shifters of Demand for Loanable Funds: 1. Incentive to Invest 2. Contractionary Fiscal Policy (to the right) 5. Shifters of Supply of Loanable Funds: 1. Incentive to Save 2. Monetary Policy 3. Expansio...

Econ Test 3 questions and answers 100% correct Which person can be categorized as a discouraged worker? Candy Kane worked at Mama's Used Cars until two months ago. She is trying to find work in her dream profession as a chocolatier. Andy Friese was formerly employed at Mama's Used Cars. He has not worked there for six months and has given up looking for work. Dan Druff currently works at Mama's Used Cars. He expects to be laid off in two weeks. Mildred Ender currently works for M...

Sophia Marcoeconomics Milestone 2 1 Select the TRUE statement below regarding aggregate supply in the short and long run. In the long run, there are no limits on production. The relationship between price level and RGDP is negative in the short run. The LRAS curve can move over time. In the long run, there is a close relat

Supply-side economic policies are mainly micro- economic policies designed to improve the supply-side potential of an economy, make markets and industries operate more efficiently and thereby contribute to a faster rate of growth of real national output The “supply side” refers to factors affecting the quantity or quality of goods and services produced by an economy such as the level of productivity or investment in research and development. Supply-side policies focus on the productio...

When will the deadweight loss be created?  When surplus is shifted from consumer to producer  When a binding price constraint is implemented  When the market is clearing  When consumer and producer surplus are maximized CONCEPT Deadweight Loss 16 If a certain brand of furry boots are suddenly all the rage and the market price increases to $500 a pair, but very few people buy them because they are too expensive, which of the following will happen next?  The pric...

Sophia (Macroeconomics) - Unit 2 Milestone questions well solvedWhich statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. 00:48 01:16 Select the statement below that is true of long run aggregate supply curves. There is no relationship bet...

Hi guys I'm a previous IB student that received a level 7 in the HL Economics course and 44 points overall. This doc has a summary of all of my class notes for the new 2020 Economics syllabus in the Macroeconomics AD/AS topic This includes: - Aggregate demand - Aggregate supply - LRAS curve Hope this helps!

Edexcel A Level Microeconomics 2022|2023 latest updated Factors influencing demand for labour Demand for final product - if rise in output > increase in productivity Relative productivity of labour to capital - substitution effect £3,000 subsidy for hiring unemployed 18-24 y.o. = half UK's youth minimum wage Factors influencing supply of labour Cost of living Cost of gaining skills UK uni fees capped at £9,250 per year Number of workers UK raises state pension age fro...

AQA A-level ECONOMICS 7136/2 Paper 2 National and International Economy Question Paper + Mark scheme [MERGED] June 2022 IB/M/Jun22/E5 7136/2 Time allowed: 2 hours Materials For this paper you must have: • an AQA 12-page answer book • a calculator. Instructions • Use black ink or black ball-point pen. Pencil should only be used for drawing. • Write the information required on the front cover of your answer book. The Paper Reference is 7136/2. • In Section A, answer EI...