Macroeconomic Concepts Jeopardy Template

Circular Flow Diagram	G.D.P.	Unemployment	Economic Growth	Do you know the formula?
100 Land, Labor, Capital, and Entrepreneur What are the four factors of production?	100 Gross Domestic Product and it is the market value of all final goods and services produced within a country in a given time period. What does GDP stand for and what is it?	100 Frictional, Cyclical, Structural, and Seasonal What are the four types of unemployment?	100 GDP, CPI, Aggregate Demand and Aggregate Supply What concepts help measure economic growth?	100 How to calculate unemployment rate? The number of unemployed people divided by the labor force multiplied by one hundred How to calculate unemployment rate?
200 The factors of production helps businesses to make finished products. Whom does the factors of productions benefit in the circular flow diagram?	200 How is aggregate demand related to the concept of GDP? Because they can be calculated by using the same formula. How is aggregate demand related to the concept of GDP?	200 Saint Nicholas is experiencing frictional unemployment If Saint Nicholas was to work as a part time chef , but spends time looking for a new job for eleven months. What type of unemployment is Saint Nicholas experiencing?	200 Consumer Price Index Inflation can be measured using ....?	200 Price Index = current year price of a market basket divided by base year price of market basket multiplied by one hundred What is the calculation for CPI?
300 They will have to pay taxes, but they can either spend or save their money. What are some things that households can do with the income they incur if taxes are added?	300 Using the expenditures approach or the income approach. What are the two ways to calculate GDP?	300 Structural Unemployment I occur because you can not compete with me, which type of unemployment am I ?	300 The stock market crashed causing a recession What happened to the economy in the year 1929?	300 GDP= C+I+G+Xn Consumer spending plus capital investments plus government spending plus net exports What is the Expenditure approach formula for GDP?
400 Taxes, government purchases, and government borrowing What three concepts are add to the circular flow diagram as a part of the government sector?	400 FALSE GDP measures how many resources become scarce in a year? TRUE or FALSE	400 Cyclical Unemployment I occur when the economy is contracting or in a trough, which type of unemployment am I?	400 Expansion What is the phase of the business cycle when the economy moves from a trough to a peak?	400 AD= C+I+G+Xn Consumer spending plus capital investments plus government spending plus net exports What is the formula for aggregate supply?
500 Government purchases affects the GDP that flows through the product markets. How is the concept of government purchases related to the circular flow diagram?	500 FALSE Imports and exports are counted in national GDP. TRUE or FALSE	500 Unemployment Rate The percentage of the work force over 16 who are willing and able to work and do not have a job.	500 Consumer spending, investment spending, government spending, net export spending, and government policies. What are the determinants of aggregate demand?	500 National Income = wages+rent+interest+profit What is the formula for the income approach of GDP?

Macroeconomic Concepts

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