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CLEP Macroeconomics: National Income And Price Determination
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Avg score: 57% • Most missed: “Disposable Income (DI) = Consumption(C) + Saving Consumption (S)”
CLEP Macroeconomics: National Income And Price Determination
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25 Questions

1. Price levels rise due to a decrease in Short Run Aggregate Supply

2. Potential GDP

3. The change in savings divided by the change in disposable income

4. Increase in AD

5. A non-price related change causes a _____ in the demand curve

6. Equilibrium real GDP exceeds potential GDP

7. A rise in both the price level and the money wage rate that maintains full employment brings a movement along the ____ curve.

8. Decrease in AD

9. Disposable Income (DI) = Consumption(C) + Saving Consumption (S)

10. Relationship between saving and disposable income

11. When AD increases - real GDP __________.

12. When AD increases - the price level ________.

13. Sum of the quantities of all the final goods produced in the economy

14. When potential GDP increases - both LAS and SAS curves shift _____.

15. The point on a consumption function where the consumption line intersects the 45 degree line

16. The ratio of change in consumption to change in income

17. A rise in the price level at a constant money wage rate brings a change in employment and real GDP and a movement along the ___ curve.

18. Increase in long-term growth

19. Change in consumption expenditure divided by the change in disposable income

20. Slopes downward

21. MPC

22. The value of consumption goods and services bought by households

23. The quantity of real GDP demanded equals the quantity of real GDP supplied

24. Increased AD brings a(n) ___________ in SAS.

25. A persistent increase in aggregate demand that exceeds the increase in potential GDP

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