Opening Splash

1
Jeopardy!
Yennifer Castellon Period 2 Macro
Begin
2
Unit 1
Unit 2
All Around
Graphs
Summer Work
Unit 3
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3
Summer Work- 100
The demand for what shifts when there are changes
in GDP?
C1-100
Demand for money
4
Summer Work- 200
Increasing the money supply lowers interest rates
why?
C1-200
Because surplus money moves into the bond market,

5
Summer Work- 300
Points above full employment indicate what?
C1-300
They indicate an overheated economy
with inflationary problems.

6
Summer Work- 400
Other countries want U.S. goods when?
C1-400

1. Ours are cheaper
2. Our inflation is less than theirs
3. Our interest rate is higher
4. The other country is growing faster

7
Summer Work- 500
What are shifters of investment demand?
C1-500

1. Acquisition, maintenance, and operating cost
2. Business Taxes
3. Technological Change
4. Stick of capital goods on hand
5. Expectations

8
Unit 1- 100
What are capital goods? And give two examples.
C2-100
Goods intended for use in the production of
other goods or services, rather than
final consumption. Ex. pizza oven, oil drilling
equipment
9
Unit 1- 200
What is the difference between product market and
resource market?
C2-200
Product market is the market place in which a
final or finished good or services is bought by
consumers. While resource market is a
market place for the exchange of labor, capital
or raw materials.

10
Unit 1- 300
This is a model that illustrates the flow of
goods and services through the economy.
C2-300
Circular Flow Model
11
Unit 1- 400
What are four factors of production?
C2-400

1. Land
2. Labor
3. Capital
4. Entrepreneurship

12
Unit 1- 500
Which are the five determinants of demand.
C2-500

1. Tastes and Preferences
2. Number of Consumers
3. Price of related goods
4. Income
5. Future Expectations

13
Unit 2- 100
What is GDP?
C3-100
The total value of all final goods and services
produced in the economy during a given year.
14
Unit 2- 200
What are final goods and services?
C3-200
Goods and services sold to the final or end.

15
Unit 2- 300
What unemployment rate arises form the effect of
frictional and structural unemployment?
C3-300
Natural Rate of unemployment
16
Unit 2- 400
Consumers buy more of a good when its price
decreases and less when its price increases.
C3-400
Law of Demand
17
Unit 2- 500
The principle that suppliers will normally offer
more for sale at higher prices and less at lower
prices.
C3-500

Law of Supply
18
Unit 3- 100
It is the total demand for final goods and
services in the economy at a given time and price
level.
C4-100
Aggregate Demand
19
Unit 3- 200
What is aggregate supply?
 It is the total supply of goods and services
that firms in a national economy plan on selling
during a specific time period .
C3-200

20
Unit 3- 300
If aggregate demand increases and aggregated
supply decreases the price level
C3-300
Will increase but real output is indeterminate
21
Unit 3- 400
This unemployment occurs when people take time to
find a job.
C3-400
Frictional Unemployment

22
Unit 3- 500
Unemployment that rises during economic downturns
and falls when the economy improves is?
C3-500
Cyclical Unemployment
23
All Around- 100
What is an example of a substitute.
C4-100
Ex. Coke and Pepsi

24
All Around- 200
What is scarcity?
C4-200
Resources are not unlimited and are not
unlimited and are not available in
sufficient quantities to satisfy all the various
ways a society wants to use them.
25
All Around- 300
What is the difference between concave vs.
convex?
C4-300
Concave is a surface that is curved inward in
the middle. Convex is a surface that curved
outward in the middle.

26
All Around- 400
What is supply shock?
C4-400
Is an event that shifts the short-run aggregate.

27
All Around- 500
What are the shifters of supply?
1.Prices/Availability of inputs (resources) 2.
Number of sellers 3. Technology 4.Govrment
Action Taxes and Subsidies 5.Opportunity Cost of
Alternative Production 6. Expectations of Future
Profit
C4-500
28
Graphs- 100
What is this graph called?
C4-100
PPC
29
Graphs- 200
What is this graph called?
C4-200
PPF
30
Graphs- 300
What graph is this?
C4-300
Supply and Demand
31
Graphs- 400
What type of graph is this?
C4-400
SRAS Curve
32
Graphs- 500
What is the indicating area called?
C4-500
Inflationary Gap