Exam 21: Economic Growth, the Financial System, and Business Cycles

Economist Steve Landsburg has pointed out that Ebenezer Scrooge's change in behavior from miser to spender might actually be detrimental to the economy because

Recessions typically cause the unemployment rate to ________ and the inflation rate to ________.

An increase in the real interest rate results in which of the following?

During an expansion,how do inflation and unemployment typically change?

Since 1950

An increase in the government budget surplus will shift the ________ curve for loanable funds to the ________ and the equilibrium real interest rate will ________.

Table 21-2 Year Real GDP (billions of 2000 dollars) 2013 \ 10,100 2014 10,950 2015 11,425 2016 11,300 -Refer to Table 21-2.Using the table above,what is the approximate growth rate of real GDP from 2014 to 2015?

The budget deficit is defined as

One difference between stocks and bonds is that

Which of the following would contribute to a sustained high rate of economic growth in the long run in an economy?

According to Robert Fogel,economic growth ________ health,and health ________ economic growth.

Potential GDP is the maximum output a firm is capable of producing.

Most economists believe that the return of ________ during the 2007-2009 recession is a key reason why the recession was so severe.

In a closed economy

Explain why increasing the government budget deficit can decrease investment spending.

If the CPI is currently 202,what does this tell you about inflation between last year and this year?

If real GDP per capita measured in 2009 dollars was $6,000 in 1950 and $48,000 in 2016,we would say that in the year 2016,the average American could buy ________ times as many goods and services as the average American in 1950.

Which of the following increases labor productivity?

Which of the following goods would see the largest decline in demand during a recession?

An increase in the real interest rate will decrease consumption and investment.