Macroeconomics Test #3
Monday December 1
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Test is based on HL Paper 1
Part a (10 marks)
Part b (15 marks)
Answer one out of two questions
You will have 75 minutes in total
Spend 25 minutes on part a and 50 minutes on part b
Part a requires a graph but no real world examples and no evaluation
Part b requires two graphs, real world examples and evaluation
Part b should be written as an essay with an introduction and conclusion
Study Topics:
Other concepts to study:
●​ The Philips Curve and the unemployment-inflation tradeoff
●​ Government Deficit and Debt (concept of sustainable debt and economic costs of a
high level of debt)
●​ Business cycle, automatic stabilizers and actual v. potential output