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Economists
Supply and Demand
ADAS Graph Shifters
Policies
Mystery Macro
100
This economist suggested that focus should be put on the short run in an economy and that the government should intervene
Who is John Maynard Keynes?
100
When the quantity supplied of a good exceeds the quantity demanded; opposite of shortage.
What is Surplus?
100
In the Short Run when workers do not want to take a pay cut, wages are
What is "Sticky"
100

This trait which effectively became a metric policy in "Moneyball," is more important in aggregate than hits, home runs, playing defense, etc.

What is "getting on base"?

100

When trying to remember your AS/AD graphs, Mr. Kunst tends to say this

What is "Think about where the U.S. economy is right now"?

200

This economist believed in the comparative advantage theory

Who is David Ricardo?

200

An increase in income causes this shift

What is Rightward shift of Demand curve

200
This curve is immediately affected during a Stock Market Crash
What is Aggregate Demand
200
The action of fiscal policy is the most effective response due to a greater marginal propensity to save
What is government spending
200
This is the number of multiple choice questions on the AP exam.
What is 60?
300
This economist wrote "The Wealth of Nations" which described early free market principles, such as specialization and laissez-faire.
Who is Adam Smith?
300
When there is an increase in income, and the price of plane tickets (normal good) rises, the demand for bus tickets (inferior good)
What is decreases
300
What occurs when there is a positive demand shock and when the Price Level rises?
What is Inflationary Gap
300
In times of recession, John Maynard Keynes once said, “In the long run, we are all dead,” the foundation of the policy response known as
What is fiscal policy?
300
The Federal Deposit Insurance Corporation insures deposits of up to this amount.
What is $250,000?
400
Believing in economic equality, this economist believed that the government should have full control over the economy and proposed the theory of communism.
Who is Karl Marx?
400
A minimum price that buyers are required to pay for a good.
What is Price Floor?
400

One factor that shifts Long Run Aggregate Supply

What is 

         Education

         Technology

400
When the Federal Reserve uses monetary policy to stimulate the economy, this open market operation is the best method to lower interest rates and create greater demand for consumption.
What is buy bonds
400
This term refers to currency that is “supported only by faith and credit of the U.S”; opposite of commodity backed.
What is Fiat?
500
This classical-theory-based economist stated that production is the source of demand and the economy is self-regulating
Who is Jean Baptiste Say?
500
How is the Supply and Demand graph affected when input costs increase?
What is leftward shift of supply?
500
In the Long run, which direction does Short-Run Aggregate Supply Curve shift when wages are flexible?
What is Right
500
During a fall in consumer confidence, inflationary price levels hurt
Who are savers
500
This phrase refers to a situation when an increase in real interest rates leads to a decrease in borrowing from businesses. Results in decline for both capital investment and economic growth.
What is "Crowding Out"?