Study guides
Macroeconomics
4 guides for this subject — how to prepare, what to practise, and how to know it has gone in.
A practice question
Choose an answer and it is marked, with the explanation. From Macroeconomics Practice Questions With Worked Answers.
An economy produces 100 units in Year 1 at $10 each and 100 units in Year 2 at $12 each. Which statement is correct?
Nominal GDP uses each year's current prices: it rises from $1,000 to $1,200, or 20%. Real GDP uses a constant price, so output remains 100 units and real GDP is unchanged. The strongest distractor is both nominal and real GDP rising by 20%; that would incorrectly treat a price increase as an increase in physical output.
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Guides
- How to Study Macroeconomics: A Practical GuideLearn how to study macroeconomics with a structured method for diagrams, equations, policy analysis, data and exam-style answers.
- Macroeconomics Study Plan: A 6-Week Revision MethodA practical six-week macroeconomics study plan with weekly sessions, diagrams, data practice, essay drills and targeted revision.
- Macroeconomics Flashcards: A Deck Worth StudyingStudy a practical macroeconomics flashcard deck covering GDP, inflation, unemployment, fiscal policy, monetary policy and exchange rates.
- Macroeconomics Practice Questions With Worked AnswersTest GDP, inflation, unemployment, fiscal policy, monetary policy and exchange rates with 10 worked macroeconomics practice questions.
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