AP Macroeconomics graph interpretation and formulas covering GDP, the money multiplier, and aggregate supply and demand, as cloze cards.
About this set
35 cloze cards for AP Macroeconomics. Set 7 of 8 in AP Macroeconomics. It opens with "The expenditure approach to GDP is calculated as ____" and "____ is measured in constant prices from a base year, eliminating the effect of". Study it alongside the other AP sets below.
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- The expenditure approach to GDP is calculated as ____
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C + I + G + (X - M)- ____ is measured in constant prices from a base year, eliminating the effect of inflation
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Real GDP- ____ is measured in current prices and includes the effects of inflation
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Nominal GDP- The GDP deflator is calculated as (____) times 100
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Nominal GDP / Real GDP- ____ is calculated by dividing total GDP by the population
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Per capita GDP- The money multiplier formula is ____
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1 / Reserve Requirement Ratio- If the reserve requirement is 0.2, the money multiplier is ____
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5- An increase in the reserve requirement ____ the money multiplier
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decreases- The aggregate demand curve ____ from left to right on a graph
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slopes downward- The aggregate demand curve slopes downward because of the ____
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wealth effect, interest rate effect, and exchange rate effect- ____ shifts the aggregate demand curve to the right
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Expansionary fiscal policy- ____ shifts the aggregate demand curve to the left
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Contractionary fiscal policy- ____ shifts the aggregate demand curve to the right
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Expansionary monetary policy- ____ shifts the aggregate demand curve to the left
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Contractionary monetary policy- The short-run aggregate supply curve ____ from left to right on a graph
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slopes upward
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