Exam 5: Introduction to Macroeconomics

The figure below shows the aggregate demand and supply curves for the U.S.A rightward shift of the aggregate supply curve from AS to AS' would be caused by:

The value of a country's final goods and services after adjusting for changes due to inflation is called its _____.

Stagflation is a situation with high unemployment rates,high inflation rates,and little or no growth in the economy.

According to Keynes,in order to get the economy out of a recession,the government should:

An economic variable that measures something at a particular point in time is called a _____.

According to Keynes,the adoption of an expansionary fiscal policy will cause:

Which of these is a likely consequence of an increase in the price level in the economy,other things constant?

Which of these is a likely impact of a decrease in the price level in an economy on the aggregate supply in the economy?

Which of these is a supply-side approach to increase growth?

A federal policy that leads to an increase in aggregate supply is likely to result in:

The aggregate demand curve reflects:

In the history of the U.S.economy,which economic era saw both high unemployment and high inflation at the same time?

The term inflation is used to describe a(n):

Long-term growth in production in an economy can be partially explained by:

The Keynesian approach to fiscal policy calls for:

The federal debt is a stock variable that measures the net accumulation of prior federal deficits.

An increase in government spending,other things constant,will cause a:

The period between two successive peaks in a business cycle is called a contraction.

Which of these is the best measure of the average standard of living in an economy?

Identify an example of a stock variable.