Exam 13: Aggregate Demand and Aggregate Supply Analysis

The international trade effect states that a(n)________ in the price level will ________ net exports.

Potential GDP is also referred to as

Which of the following models focuses on how productivity shocks explain fluctuations in real GDP?

The recession of 2007-2009 began in ________,with the end of the economic expansion that had begun in ________.

The long-run aggregate supply curve is vertical.

Which of the following best describes the "wealth effect"?

According to Marx,which of the following factors of production did not contribute anything of value to production?

What does the phrase "Keynesian revolution" refer to?

Figure 13-1 -Refer to Figure 13-1.Ceteris paribus,a decrease in interest rates would be represented by a movement from

Which of the following best describes the "interest rate effect"?

Why does the short-run aggregate supply curve shift to the right in the long run,following a decrease in aggregate demand?

When the price level in the United States falls relative to the price level of other countries,________ will fall,________ will rise,and ________ will rise.

Changes in ________ do not affect the level of aggregate supply in the long run.

If workers leave a country to seek out better opportunities in another country,then this will

Suppose the economy is at a short-run equilibrium GDP that lies above potential GDP.Which of the following will occur because of the automatic mechanism adjusting the economy back to potential GDP?

Stagflation occurs when

An increase in the price level will

An increase in exports decreases aggregate demand.

The invention of the cotton gin ushered in the Industrial Revolution and began a long period of technological innovation.What did this technological change do the short-run supply curve?

Figure 13-1 -Refer to Figure 13-1.Ceteris paribus,an increase in firms' expectations of the future profitability of investment spending would be represented by a movement from