Macroeconomics Questions
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_______ supply is the total supply of all goods and services within an economy at a certain price level within a particular period of time.
When used together, aggregate demand and supply reveal how much ___ will be demanded and supplied at different price levels.
The total amount of goods and services demanded at a certain price level within a particular period of time is aggregate ________.
Aggregate supply is also known as total ________.
The real GDP at full employment is called the _______ GDP
Aggregate demand is also known as total __________.
Any efficient combination on the production possibilities curve is shown
Environmental Protection laws cause supply curves in the US to shit
Higher incomes would shift the demand curve for car washes to the ________
Teachers are an example of what kind of factor of production
Purchasing inventory or capital to help your business is called
The law of supply says businesses and individuals should supply ______ when prices are high
What would happen to the supply of plastic cups if the cost of plastic (a key resource) went up
What kind of costs do not vary with production (Rent Bill each month)
A country should export and specialize in a good or service if they have a ________ in it.
Where do supply and demand meet on a graph
what type of unemployment is present in a sick economy(recession)?
Refer to the graph above. A government creating economic policy in these circumstances should be most concerned about:unemployment but not inflation.inflation but not unemployment.inflation and unemployment.neither inflation nor unemployment.
In the neoclassical view, changes in ____________________ can only have a short-run impact on output and on unemployment.wage levelsaggregate supplyaggregate demandtax levels
From a neoclassical viewpoint, government should focus less on: long-term growth. controlling inflation. aggregate supply.cyclical unemployment.