ECON 410 · Section 1 — Exam Review

GDP measurement · Real vs. nominal · CPI vs. deflator · Unemployment — Mankiw Ch.1–2

Section 1 Exam Review

Two study modes — pick the one that fits your goal today.

Mode 1 — Timed Practice Exam

25 questions, 45-minute timer, mixed topics. Full results review at the end. Use this when you've already studied and want to simulate exam conditions.

Mode 2 — By-Topic Practice

Drill specific weak areas — measurement, GDP components, real/nominal, labor market, value-added. No timer, instant feedback. Use this when you're still learning.

Mode 3 — Flashcards

Quick concept review — definitions, formulas, key facts. Click to flip cards. Use this for last-minute review before the exam.

What's on the exam?

Questions in this bank come from Mankiw 10/11e Chapter 1–2 (definitions and computation) plus topic-styled practice in the spirit of typical intermediate-macro exam questions. Topic distribution:

  • Measurement basics (~6 Q): recessions, GDP definition, nominal vs. real, stocks vs. flows
  • GDP components (~5 Q): categorize transactions, biggest component, NX, transfers
  • Real/nominal computations (~5 Q): deflator math, CPI math, growth rates
  • Labor market (~5 Q): unemployment rate, LFPR, discouraged workers
  • Production approach (~4 Q): value added, imputed values, what's not in GDP

Timed Practice Exam — Section 1

You'll get 25 questions, randomly ordered. 45-minute timer. Submit when done for full results review.

25
Questions
45
Minutes
5
Topics

Pick a topic to drill

Each topic shows 8–10 questions. Instant feedback after each answer.

📊 Measurement basics

Recessions, GDP definition, nominal vs real, stocks vs flows · 8 questions

🧮 GDP components

Categorize transactions, C/I/G/NX, transfers, imports · 8 questions

📈 Real GDP, deflator, CPI

Compute nominal, real, deflator, CPI. Inflation rates · 8 questions

👥 Labor market

Unemployment rate, LFPR, discouraged workers · 7 questions

⚙️ Production approach + extras

Value added, imputed values, what's not in GDP · 7 questions

Flashcards — Section 1 concepts

Click any card to flip. Use these for quick review before the exam.
Card 1 of 20
Term
Click to start
Tip: try to answer in your head BEFORE flipping.