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UExcel Introduction to Macroeconomics: Study Guide & Test Prep

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Let us help you prepare for the UExcel Introduction to Macroeconomics exam and earn college credit with our flexible test prep course. Review the video lessons and quizzes to study all the topics you'll encounter on the test.
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16 Chapters in UExcel Introduction to Macroeconomics: Study Guide & Test Prep

16 chapters in UExcel Introduction to Macroeconomics: Study Guide & Test Prep

Ch 1. Fundamental Concepts of Macroeconomics {{cp.topicAssetIdToProgress[395947].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - What is Macroeconomics? - Definition & Principles Score: {{cp.lessonAssetIdToProgress[10600].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10600].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - What is an Economic Model? - Definition & Example Score: {{cp.lessonAssetIdToProgress[15728].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15728].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Economic Scarcity and the Function of Choice Score: {{cp.lessonAssetIdToProgress[1912].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1912].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Economic Efficiency: Definition & Examples Score: {{cp.lessonAssetIdToProgress[15747].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15747].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Adam Smith's The Wealth of Nations: Summary & Concept Score: {{cp.lessonAssetIdToProgress[7917].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[7917].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Types of Economic Systems: Traditional, Command, Market & Mixed Score: {{cp.lessonAssetIdToProgress[39597].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[39597].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Interpreting Supply & Demand Graphs Score: {{cp.lessonAssetIdToProgress[48335].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[48335].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Circular Flow of Economic Activity: The Flow of Goods, Services & Resources Score: {{cp.lessonAssetIdToProgress[1929].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1929].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Factors of Production in Economics: Definition, Importance & Examples Score: {{cp.lessonAssetIdToProgress[10250].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10250].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Income Distribution and Inequality in the US Score: {{cp.lessonAssetIdToProgress[58711].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[58711].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - The Global Marketplace: Definition & Overview Score: {{cp.lessonAssetIdToProgress[9224].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[9224].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - What is the Law of Demand in Economics? - Definition & Example Score: {{cp.lessonAssetIdToProgress[15743].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15743].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Five Determinants of Demand & the Demand Curve Score: {{cp.lessonAssetIdToProgress[395955].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[395955].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - The Law of the Downward Sloping Demand Curve Score: {{cp.lessonAssetIdToProgress[1925].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1925].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Factors that Affect the Market Demand Curve Score: {{cp.lessonAssetIdToProgress[32914].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[32914].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Law of Supply: Definition & Example Score: {{cp.lessonAssetIdToProgress[15745].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15745].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Quantity Supplied of a Good: Definition & Overview Score: {{cp.lessonAssetIdToProgress[10249].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10249].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - The Upward-Sloping Supply Curve Score: {{cp.lessonAssetIdToProgress[1926].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1926].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - The Market Supply Curve: Definition, Principles & Equation Score: {{cp.lessonAssetIdToProgress[10205].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10205].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - How to Calculate Market Equilibrium Score: {{cp.lessonAssetIdToProgress[1927].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1927].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - How Changes in Supply and Demand Affect Market Equilibrium Score: {{cp.lessonAssetIdToProgress[2362].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2362].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - The Role of Government in a Market Economy Score: {{cp.lessonAssetIdToProgress[38226].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[38226].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Economic Goals for the US Economy Score: {{cp.lessonAssetIdToProgress[38225].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[38225].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - How the Government Protects the U.S. Economy Score: {{cp.lessonAssetIdToProgress[20616].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[20616].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - How the Government Promotes Economic Interests Score: {{cp.lessonAssetIdToProgress[20618].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[20618].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Public Good in Economics: Definition, Theory & Examples Score: {{cp.lessonAssetIdToProgress[15872].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15872].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Market Power in Economics: Definition, Sources & Examples Score: {{cp.lessonAssetIdToProgress[15661].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15661].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Fiscal Policy Tools: Government Spending and Taxes Score: {{cp.lessonAssetIdToProgress[2000].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2000].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Understanding the Progressive Tax Code Score: {{cp.lessonAssetIdToProgress[2005].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2005].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - National Income Accounting in Economics: Definition, Uses & Equation Score: {{cp.lessonAssetIdToProgress[15791].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15791].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Gross Domestic Product: Definition and Components Score: {{cp.lessonAssetIdToProgress[1931].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1931].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - GNP: Definition & Formula Score: {{cp.lessonAssetIdToProgress[15746].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15746].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Gross Domestic Product: Nominal vs. Real GDP Score: {{cp.lessonAssetIdToProgress[1939].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1939].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - GDP Deflator: Definition, Formula & Example Score: {{cp.lessonAssetIdToProgress[15769].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15769].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - What is Consumption in Economics? - Definition & Theory Score: {{cp.lessonAssetIdToProgress[15793].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15793].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Economic Output: Definition & Overview Score: {{cp.lessonAssetIdToProgress[10228].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10228].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - The Circular Flow of Income: Definition & Model Score: {{cp.lessonAssetIdToProgress[15701].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15701].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Defining and Measuring the Unemployment Rate Score: {{cp.lessonAssetIdToProgress[1944].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1944].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - What is Underemployment? - Definition, Types, Causes & Effects Score: {{cp.lessonAssetIdToProgress[15825].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15825].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - What is Phantom Unemployment? - Definition & Examples Score: {{cp.lessonAssetIdToProgress[395981].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[395981].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Three Types of Unemployment: Cyclical, Frictional & Structural Score: {{cp.lessonAssetIdToProgress[1946].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1946].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Seasonal Unemployment: Definition & Examples Score: {{cp.lessonAssetIdToProgress[10212].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10212].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Natural Rate of Unemployment: Definition and Formula Score: {{cp.lessonAssetIdToProgress[1947].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1947].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - The Effects of Outsourcing and Migrant Workers on the World Economy Score: {{cp.lessonAssetIdToProgress[27831].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[27831].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Consumer Price Index: Measuring the Cost of Living and Inflation Score: {{cp.lessonAssetIdToProgress[1935].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1935].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Consumer Price Index and the Substitution Bias Score: {{cp.lessonAssetIdToProgress[1937].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1937].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - The GDP Deflator and Consumer Price Index Score: {{cp.lessonAssetIdToProgress[1936].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1936].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - What is the Core Rate of Inflation? Score: {{cp.lessonAssetIdToProgress[395989].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[395989].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Producer Price Index: Definition & Formula Score: {{cp.lessonAssetIdToProgress[15834].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15834].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Crude Materials: Definition, Categorization & Examples Score: {{cp.lessonAssetIdToProgress[395991].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[395991].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Intermediate Goods: Definition & Examples Score: {{cp.lessonAssetIdToProgress[10251].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10251].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - What are Finished Goods? - Definition & Example Score: {{cp.lessonAssetIdToProgress[346747].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[346747].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Inflation & Unemployment Relationship Phases: Phillips, Stagflation & Recovery Score: {{cp.lessonAssetIdToProgress[82079].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82079].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Demand-Pull Inflation vs Cost-Push Inflation Score: {{cp.lessonAssetIdToProgress[1940].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1940].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Cost of Living Adjustment: History & Formula Score: {{cp.lessonAssetIdToProgress[15844].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15844].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Aggregate Demand: Definition & Model Score: {{cp.lessonAssetIdToProgress[10261].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10261].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Consumption Function: Relationship Between Marginal & Average Propensity to Consume Score: {{cp.lessonAssetIdToProgress[82077].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82077].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Marginal Propensity to Save: Formula & Relationship to MPC Score: {{cp.lessonAssetIdToProgress[82076].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[82076].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Calculating Net Exports: Definition & Formula Score: {{cp.lessonAssetIdToProgress[15758].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15758].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Full Employment GDP: Definition and Examples Score: {{cp.lessonAssetIdToProgress[1965].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1965].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Inflationary Gap: Definition & Overview Score: {{cp.lessonAssetIdToProgress[10599].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10599].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - What Is a Recessionary Gap? - Definition & Graph Score: {{cp.lessonAssetIdToProgress[15655].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[15655].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - The Multiplier Effect and the Simple Spending Multiplier: Definition and Examples Score: {{cp.lessonAssetIdToProgress[2436].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2436].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - What is the Consumer Confidence Index? - Definition & Function Score: {{cp.lessonAssetIdToProgress[396005].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[396005].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Money as a Medium of Exchange: Definition, Function & Examples Score: {{cp.lessonAssetIdToProgress[10482].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10482].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Money as a Store of Value: Definition & Overview Score: {{cp.lessonAssetIdToProgress[10500].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10500].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Money as a Standard of Value: Definition & Overview Score: {{cp.lessonAssetIdToProgress[396033].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[396033].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Measuring the Money Supply: Explanation and Examples Score: {{cp.lessonAssetIdToProgress[1985].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1985].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Bank Assets & Liabilities: Definitions & Examples Score: {{cp.lessonAssetIdToProgress[314267].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[314267].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - How Money Is Made: Understanding Bank Lending in the Economy Score: {{cp.lessonAssetIdToProgress[1987].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1987].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Money and Multiplier Effect: Formula and Reserve Ratio Score: {{cp.lessonAssetIdToProgress[1988].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1988].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - The Federal Reserve Act of 1913: Definition & Overview Score: {{cp.lessonAssetIdToProgress[10483].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10483].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Fractional Reserve System: Required and Excess Reserves Score: {{cp.lessonAssetIdToProgress[1986].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1986].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Reserve Requirement, Open Market Operations and the Discount Rate Score: {{cp.lessonAssetIdToProgress[1993].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1993].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Determinants of Bond Yields Score: {{cp.lessonAssetIdToProgress[69830].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[69830].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - The Money Market: Money Supply and Money Demand Curves Score: {{cp.lessonAssetIdToProgress[1990].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1990].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - How the Federal Reserve Changes the Money Supply and Affects Interest Rates Score: {{cp.lessonAssetIdToProgress[1994].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1994].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Monetary Policy & The Federal Reserve System Score: {{cp.lessonAssetIdToProgress[20620].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[20620].bestScoreQuestions}}  Take Quiz Optional

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