More Human Than Human: Does The Uncanny Curve Really Matter?
Begin $100 $200 $300 $400 $500 Which way Does a Supply Curve Shift? Graphs Unemployment GDP Random...
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Transcript of Begin $100 $200 $300 $400 $500 Which way Does a Supply Curve Shift? Graphs Unemployment GDP Random...
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$100 $100 $100 $100 $100$100
$200 $200 $200 $200 $200$200
$300 $300 $300 $300 $300$300
$400 $400 $400 $400 $400$400
$500 $500 $500 $500 $500$500
Which way Which way Does a SupplyDoes a SupplyCurve Shift?Curve Shift? GraphsGraphs
UnemploymentUnemployment GDP RandomRandomWhich way Which way
Does a demandDoes a demandCurve shift?Curve shift?
- $100- $100
If income goes up, demand curve shifts…
Right
- $200
If prices of related goods go up, the demand curve shifts….
Left
- $300
If the preference for a product changes to another product, the demand curve shifts…
Left
- $400
If income goes down, the demand curve shifts…
Left
- $500
If expectations go down, the demand curve will shift…
Left
- $100If expectations improve, the supply curve will shift…
Left
- $200
If cost to produce goes up, the supply curve will shift…
Left
- $300
If expectations lower, the supply curve will shift…
Right
- $400
If the cost to produce lowers, the supply curve will shift…
Right
- $500
If technology improves, the supply curve will shift…
Right
- $100
Demand Graph
- $200
Real GDP
- $300
SRAS Curve
- $400
AD Graph
- $500
LRAS Graph
- $100
What term is equal to the sum of the employed and the unemployed?
Labor Force
- $200
What is the unemployment that arises from the effects of frictional and structural unemployment?
Natural Rate of Unemployment
- $300
What is the name of the unemployment that results from their being more people seeking for jobs than there are jobs available?
Structural Unemployment
- $400
What is the type of unemployment that is the result of economic downturns?
Cyclical unemployment
- $500
What type of unemployment is due to the time workers spend in job search?
Frictional Unemployment
- $100
What is the monetary value of all final goods and services produced within a country’s borders in one year?
GDP
- $200
What are the four components of GDP?
Consumer spending, investments, government spending and net exports
- $300
Nominal GDP
What kind of GDP is the total goods and services produced in the economy during a given year, calculated with the prices current in the year in which output is produced?
- $400
What is the GDP Deflator?
For a given year is 100 times the ratio of Nominal GDP to the Real GDP in that year.
- $500
What three things are not included in GDP?
Non-market (Illegal) activities, Nonproduction transactions and Intermediate goods
- $100
What kind of curve is curved inward in the middle?
Concave curve
- $200
What is the name of a market place for the exchange of labor, capital and raw materials?
Resource Market
- $300
What do you call services that are sold to the final user?
Final goods and services
- $400
What is the term used for the measure of the cost of the final market basket of a typical urban American family?
Consumer price index
- $500
What is the term used for all the goods and services that buyers are able and willing to buy at different price levels?
Aggregate Demand
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