Unit Topics
What is the topic for Unit 6?
International Trade and Finance.
If you demand one currency you must supply your currency?
True.
How can GDP be calculated?
GDP (Y) = C + I + G + (X-M)
What does Macroeconomics focus on?
The economy as a whole and aggregate data (GDP, unemployment, inflation) and how it can be manipulated.
What is technological unemployment?
Type of structural unemployment where automation and machinery replace workers.
What is the topic for Unit 5?
Long run consequences of stabilization policies.
In the FOREX market we only look at 1 country or currency at a time.
False. The correct answer is 2.
How can aggregate demand be calculated?
AD= C + I + G + (X-M)
What does Microeconomics focus on?
The choices of individuals, households, and firms.
What is frictional unemployment?
Temporary unemployment or between jobs.
What is the topic for Unit 4?
Financial Sector.
Trade deficit is exporting more than is imported.
False.
How can aggregate supply be calculated?
AS= R + A + P
What is Absolute Advantage?
The producer that can produce the most output or requires the least amount of input.
What is seasonal unemployment?
A specific type of frictional unemployment, which is due to time of year and the nature of the job.
What is the topic for Unit 3?
National Income and Price Determination.
Trade surplus is exporting less than is imported.
False.
What is the money multiplier formula?
Money Multiplier = 1/ reserve requirement (ratio)
What is Comparative Advantage?
The producer with the lowest opportunity.
What is structural unemployment?
Changes in the labor force make some skills obsolete.
What is the topic for Unit 2?
Economic Indicators and The Business Cycles.
The balance of payments is made up of two different accounts: (CA) and (CFA).
True.
How can money supply be calculated?
M x V = P x V
What is GDP (Gross Domestic Product)?
The dollar value of all final goods and services produced within a country in one year.
What is cyclical unemployment?
Unemployment caused by a recession.