AP Macroeconomics graph interpretation and formulas covering GDP, the money multiplier, and aggregate supply and demand, as cloze cards.
35 cards · cloze cards · AI-written, checked twice. Edit anything.
- The expenditure approach to GDP is calculated as ____
- C + I + G + (X - M)
- ____ is measured in constant prices from a base year, eliminating the effect of inflation
- Real GDP
- ____ is measured in current prices and includes the effects of inflation
- Nominal GDP
- The GDP deflator is calculated as (____) times 100
- Nominal GDP / Real GDP
- ____ is calculated by dividing total GDP by the population
- Per capita GDP
- The money multiplier formula is ____
- 1 / Reserve Requirement Ratio
- If the reserve requirement is 0.2, the money multiplier is ____
- 5
- An increase in the reserve requirement ____ the money multiplier
- decreases
- The aggregate demand curve ____ from left to right on a graph
- slopes downward
- The aggregate demand curve slopes downward because of the ____
- wealth effect, interest rate effect, and exchange rate effect
- ____ shifts the aggregate demand curve to the right
- Expansionary fiscal policy
- ____ shifts the aggregate demand curve to the left
- Contractionary fiscal policy
- ____ shifts the aggregate demand curve to the right
- Expansionary monetary policy
- ____ shifts the aggregate demand curve to the left
- Contractionary monetary policy
- The short-run aggregate supply curve ____ from left to right on a graph
- slopes upward