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List the three alternative explanations for the upward slope of the short run aggregate supply curve.

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Sticky wages, sticky...

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The long-run trend in real GDP is upward.How is this possible given business cycles? What explains the upward trend?

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There are occasional short-lived periods...

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Figure 33-14. Figure 33-14. -Refer to Figure 33-14.Identify which long run aggregate-supply curve(s)would be consistent with long-run equilibrium. -Refer to Figure 33-14.Identify which long run aggregate-supply curve(s)would be consistent with long-run equilibrium.

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Who said about classical economic theory: "the long run is a misleading guide to current affairs.In the long run we are all dead"?

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Figure 33-15. Figure 33-15. -Refer to Figure 33-15.Suppose the economy begins at point A.Decreases in what four variables could result in a movement to point D? -Refer to Figure 33-15.Suppose the economy begins at point A.Decreases in what four variables could result in a movement to point D?

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consumption, investm...

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Suppose a country offers a new investment tax credit.Which curve(s)in the aggregate demand and aggregate supply model would be affected,and which way would it (they)shift?

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The aggregate-demand...

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A recession with inflation is know by what term?

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What curve shows the quantity of goods and services that households,firms,the government,and customers abroad want to buy at each price level?

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The aggreg...

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Suppose a country experiences a change in weather patterns that makes farming more difficult.Which curve(s)in the aggregate demand and aggregate supply model would be affected,and which way would it (they)shift?

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The short-run and lo...

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Make a list of things that would shift the aggregate demand curve to the right.

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Examples (and variations on examples) in...

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Suppose the government raises taxes.Which curves in the aggregate demand and aggregate supply model would be affected,and which way would they shift?

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The aggreg...

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Identify the direction of the change during a recession in each of the following: consumption expenditures,investment expenditures,and unemployment.

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Consumption expendit...

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A decrease in what variable will raise the quantity of goods and services supplied,and shift only the short run aggregate supply curve to the right?

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The expect...

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Suppose a recession overseas reduces a country's exports.Which curve(s)in the aggregate demand and aggregate supply model would be affected,and which way would it (they)shift?

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The aggregate-demand...

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Suppose a country experiences an increase in its capital stock.Which curve(s)in the aggregate demand and aggregate supply model would be affected,and which way would it (they)shift?

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The short-run and lo...

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Figure 33-17. Figure 33-17. -Refer to Figure 33-17.Suppose the economy starts at P<sub>3</sub> and Y<sub>2</sub>.Explain how government purchases would need to change to move the economy to P<sub>2</sub> and Y<sub>1</sub>.What about taxes? -Refer to Figure 33-17.Suppose the economy starts at P3 and Y2.Explain how government purchases would need to change to move the economy to P2 and Y1.What about taxes?

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decrease in governme...

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Explain how an increase in the price level changes interest rates.How does this change in interest rates lead to changes in investment and net exports?

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When the price level increases, the purc...

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Suppose people anticipate an increase in the expected price level.Which curve(s)in the aggregate demand and aggregate supply model would be affected,and which way would it (they)shift?

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The short-run aggreg...

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Identify the variables that could cause shifts in both the short-run and long-run aggregate-supply curves.

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labor, cap...

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Use sticky-wage theory to explain why an increase in the expected price level shifts the aggregate supply curve.

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When people expect the price l...

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Showing 21 - 40 of 59

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