Review for AD/AS and budget test (on Monday 19th May)+ power points
I decided to make this test “open book” partly because many of you have been burdened with AP and IB SL exams over the past week. But the main reason is because I want to test that you are using logical reasoning and thinking through the models, rather than memorising facts and diagrams.
During the test, you can therefore use the textbook and class notes, handouts, and worksheets, but not the internet.
Here are the answers to the multiple choice questions. By working through the multiple choice questions you will be automatically using the models to reason, so it is the best way to prepare for the text. If you answer them all, that should be sufficent review.
MACRO (AD/AS and the BUDGET) Review questions ANSWERS
Ask me(by email) if you do not understand the connection between the question and the answer (it may be that I got the answer wrong!).
There are also two power-points attached, which you may find useful. For the New Classical vs Keynesian power point only go up to slide 14. You are not expected to understand the keynesian viewpoint yet.
Have a restful and enjoyable weekend!