Each set of graphs will be checked the day before or the day of the unit test. You will hand them in again for a grade shortly before the final exam.
Unit 1
1.
Production Possibilities Curve a.
3 graphs i.
1 showing a point inside the curve, outside the curve, and on the curve, all points must be explained ii.
1 showing increasing costs with numbers iii.
1 showing constant cost with number b.
A question asking the student to calculate the opportunity cost for one of the graphs
(use one of the graphs with numbers) with an answer and explanation on the back
2.
Comparative Advantage a.
1 PPC graph for two countries b.
Table that corresponds with the numbers on the graph c.
1 question asking the student to calculate the opportunity cost for both nations for both products (answer on the back) d.
1 question asking about absolute advantage, 1 question asking about comparative advantage, 1 question asking about terms of trade, answers to all questions on the back of the card
3.
Demand a.
One graph showing a change in price causing a change in qd i.
State the law of demand b.
One graph showing a change in demand i.
List of determinants ii.
Give one situation and show the change on the graph iii.
1 question asking what happened to p and q with answer on the back
4.
Supply a.
One graph showing a change in price causing a change in qs i.
State the law of supply b.
One graph showing a change in SUPPLY i.
List of the determinants ii.
Give one situation and show the change on the graph iii.
1 question asking what happened to p and q with answer on the back
5.
Changes in BOTH supply and demand a.
Draw a graph where demand and supply both shift i.
Make sure to shift each by the same amount ii.
State the conditions that caused the shift on the front iii.
Ask a question on the front about what happened to price and quantity. Answer on the back.

UNIT 2
6.
Circular Flow a.
Include all sectors, leakages, and injections
7.
Business Cycle—Draw with all for stages, state where inflation occurs, high unemployment, and stagflation
8.
Difference between real GDP and nominal GDP with Pictures
9.
All equations for RGDP, Nominal, PI with pics or a graphic representation
10.
Unemployment formula, labor force participation rate
11.
Real wages, nominal wages, real income, nominal income
UNIT 3
12.
AD/AS (Aggregate Demand) a.
List all determinants of AD b.
1 graph showing AD increasing c.
1 graph showing AD decreasing d.
1 question asking about what happened to the price level, output, and unemployment
13.
AD/AS (Aggregate Supply) a.
List all determinants of AS b.
1 graph showing AS increasing c.
1 graph showing AS decreasing d.
1 question asking what happened to the pl, RGDP, and unemployment, answer on the back e.
1 question asking about stagflation, answer on the back
14.
AD/AS with LRAS a.
1 graph showing full employment equilibrium b.
1 graph showing recession c.
1 graph showing inflation
15.
Phillips Curve a.
1 graph, make sure to show SRPC and LRPC b.
Show a movement along the SRPC and the corresponding AD/AS shift c.
Show a shift in the SRPC and the corresponding AD/AS graph d.
Show a shift in the LRPC and the corresponding AD/AS with LRAS graph
UNIT 5
16.
Flow Chart of Expansionary Fiscal Policy: include action by gov. on taxes and spending with taxing and spending multipliers, include all graphs—AD/AS with LRAS, change in AD,
Loanable Funds Market Graph, ir effect on investment (physical capital) on ADAS, effects on foreign exchange market, appreciation/depreciation affects of net exports of AD/AS
17.
Flow Chart of Contractionary Fiscal Policy : include action by gov. on taxes and spending with taxing and spending multipliers, include all graphs—AD/AS with LRAS, change in AD,
Loanable Funds Market Graph, ir effect on investment (physical capital) on ADAS, effects on foreign exchange market, appreciation/depreciation affects of net exports of AD/AS
18.
Flow Chart of Tight (Contractionary) Monetary Policy: include action by Fed on RRR (define it), discount rate (define it), open market operations, include all graphs—AD/AS with LRAS, money market graph (include a numerical example about 1 deposit contracting/expanding) the
MS, Loanable Funds Market Graph, ir effect on investment (physical capital) on ADAS, effects on foreign exchange market, appreciation/depreciation affects of net exports of AD/AS

19.
Flow Chart of Easy (Expansionary) Monetary Policy: include action by Fed on RRR, discount rate, open market operations, include all graphs—AD/AS with LRAS, money market graph
(include a numerical example about 1 deposit contracting/expanding) the MS, Loanable Funds
Market Graph, ir effect on investment (physical capital) on ADAS, effects on foreign exchange market, appreciation/depreciation affects of net exports of AD/AS