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Vocab
Misc Graphing
AD/AS Graphing
Policy
Math
100

An increase in the price level

Inflation

100

for this question, draw the Lorenz curve based on info.

Cut in funding for education

less equal

100

For this question, draw the correct AD/AS graph, fully labelled:

Government increases spending

AD increase

100

For each question say what type of policy it is and whether it is expansionary or contractionary and what happens to output

Fed Reserve buys bonds

Monetary

Expansionary

Output increases

100
  • United States Real GDP: 2020=23.1 Million; 2021=24.2 Million. 2022=23.0 Million
  • Calculate growth rate for:
  • 2020-2021

4.76%

200

You are in transition between jobs, looking for a job

Frictional unemployment

200

for this question, draw the Lorenz curve based on info.

Europe gets rid of VAT (sales) tax

increases equality

200

For this question, draw the correct AD/AS graph, fully labelled:

Decrease in consumer credit

Decrease in AD

200

For each question say what type of policy it is and whether it is expansionary or contractionary and what happens to output

Government cuts regulation

Supply side

Expansionary

Output increases

200

Nominal interest rates=10.11%

Inflation=3.24%

Real interest rates=6.87%
300

Non repayable, unearned payments the Government makes

EX:Social Security

Transfer Payments

300

for this question, draw the Lorenz curve based on info.

The Voting Rights Act was not reauthorized in 2006

less equality

300

For this question, draw the correct AD/AS graph, fully labelled:

Increase funding in healthcare by Government

Increase in LRAS

300

For each question say what type of policy it is and whether it is expansionary or contractionary and what happens to output

Government cuts funding in budget

Fiscal

Contractionary

Output decreases

300
  • C=156; I=?; G=74; Exports=35; imports=41; GDP= 284
  • Calculate I

60

400

Use of government policy through taxation and spending to influence an economy of a nation

Fiscal Policy

400

For the following question, draw a fully labelled Labour Market Graph

AI replaces radiologist

D decreases

400

For this question, draw the correct AD/AS graph, fully labelled:

cost of plastic increases for producers

Decrease in SRAS

400

For each question say what type of policy it is and whether it is expansionary or contractionary and what happens to output

Federal Reserve raises required reserve ratio

Monetary

Contractionary

Output decreases

400
  • Nominal GDP=23.56 million; GDP Deflator=105.23; Calculate Real GDP.

22.39 Million

500

Primary tool of Federal Reserve to buy and sell government securities (bonds)

OMO (Open Market Operations)

500

for this question, draw the Lorenz curve based on info.

Free Trade Agreement that eliminates tariffs for foreign cars in the United States

D decreases

500

For this question, draw the correct AD/AS graph, fully labelled:

Democratic government established in South Sudan

LRAS increases

500

For each question say what type of policy it is and whether it is expansionary or contractionary and what happens to output

Government deprivatizes public utilities

Supply Side

Expansionary

Output increases

500

Calculate the inflation rate for 2020-201 and 2021-2022 using CPI below

CPI:   2020=103.25; 2021=104.26; 2022=106.51

2021=.98%

2022=2.16%