The table identifies annual gross domestic product GDP) in billions of dollars) for country X. \[\begin{array} { l l l l } \hline \text { Year } & \text { GDP } & \text { Year } & \text { GDP } \\ \hline 2006 & 1,107 & 2011 & 2,614 \\ 2007 & 1,397 & 2012 & 2,460 \\ 2008 & 1,695 & 2013 & 2,465 \\ 2009 & 1,667 & 2014 & 2,417 \\ 2010 & 2,208 & 2015 & 1,774 \\ \hline \end{array}\] Based on the table, during which years) was the country in a recession?

A recession is most often defined as a d

Exam 13: The Aggregate Demandaggregate Supply Model

Suppose the government permanently reduces spending in an effort to reduce the budget deficit. In the new long-run equilibrium, output will and the price level will .

(Multiple Choice)

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Question 21

How does the wealth effect explain the slope of the aggregate demand curve?

(Essay)

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Question 22

If the price level falls but workers are reluctant to accept a pay cut, this is an example of

(Multiple Choice)

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Question 23

When saving declines, the quantity of investment will , and therefore aggregate demand will .

(Multiple Choice)

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Question 24

If inflation turns out to be higher than expected, this will

(Multiple Choice)

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Question 25

When a change in the price level leads to a change in the interest rate and thus a change in the quantity of aggregate demand, it is called the ________ effect.

(Multiple Choice)

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Question 26

If large emerging economies continue to grow rapidly, we can expect U.S. aggregate

(Multiple Choice)

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Question 27

When foreign income rises, U.S. aggregate

(Multiple Choice)

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Question 28

When U.S. goods become more expensive relative to foreign goods, exports will and imports will .

(Multiple Choice)

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Question 29

Shifts in the short-run aggregate supply curve are caused by

(Multiple Choice)

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Question 30

The table identifies annual gross domestic product GDP) in billions of dollars) for country X. Year GDP Year GDP 2006 1,107 2011 2,614 2007 1,397 2012 2,460 2008 1,695 2013 2,465 2009 1,667 2014 2,417 2010 2,208 2015 1,774 Based on the table, during which years) was the country in a recession?

(Essay)

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Question 31

________ would cause a leftward shift of the aggregate demand curve.

(Multiple Choice)

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Question 32

The aggregate demand curve illustrates the

(Multiple Choice)

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Question 33

The long-run aggregate supply curve is

(Multiple Choice)

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Question 34

Suppose that many of our trading partners in Europe sink into recession. In the short run, output in the United States will and the price level will .

(Multiple Choice)

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Question 35

The value of one's accumulated assets is best defined as

(Multiple Choice)

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Question 36

What is the difference between a movement along the aggregate demand curve and a shift of the aggregate demand curve? Explain in terms of what causes a movement and what causes a shift.

(Essay)

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Question 37

If the current short-run equilibrium level of output is greater than full-employment output, we can then expect that in the long run the

(Multiple Choice)

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Question 38

An increase in the price level will the real value of wealth and, as a result, there will be the aggregate demand curve.

(Multiple Choice)

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Question 39

The interest rate effect results from people

(Multiple Choice)

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Question 40

Showing 21 - 40 of 175

Suppose the government permanently reduces spending in an effort to reduce the budget deficit. In the new long-run equilibrium, output will and the price level will .

How does the wealth effect explain the slope of the aggregate demand curve?

If the price level falls but workers are reluctant to accept a pay cut, this is an example of

When saving declines, the quantity of investment will , and therefore aggregate demand will .

If inflation turns out to be higher than expected, this will

When a change in the price level leads to a change in the interest rate and thus a change in the quantity of aggregate demand, it is called the ________ effect.

If large emerging economies continue to grow rapidly, we can expect U.S. aggregate

When foreign income rises, U.S. aggregate

When U.S. goods become more expensive relative to foreign goods, exports will and imports will .

Shifts in the short-run aggregate supply curve are caused by

The table identifies annual gross domestic product GDP) in billions of dollars) for country X. Year GDP Year GDP 2006 1,107 2011 2,614 2007 1,397 2012 2,460 2008 1,695 2013 2,465 2009 1,667 2014 2,417 2010 2,208 2015 1,774 Based on the table, during which years) was the country in a recession?

________ would cause a leftward shift of the aggregate demand curve.

The aggregate demand curve illustrates the

The long-run aggregate supply curve is

Suppose that many of our trading partners in Europe sink into recession. In the short run, output in the United States will and the price level will .

The value of one's accumulated assets is best defined as

What is the difference between a movement along the aggregate demand curve and a shift of the aggregate demand curve? Explain in terms of what causes a movement and what causes a shift.

If the current short-run equilibrium level of output is greater than full-employment output, we can then expect that in the long run the

An increase in the price level will the real value of wealth and, as a result, there will be the aggregate demand curve.

The interest rate effect results from people

Five Foundations of Economics

Model Building and Gains From Trade

The Market at Work: Supply and Demand

Market Outcomes and Tax Incidence

Price Controls

Introduction to Macroeconomics and Gross Domestic Product

Unemployment

The Price Level and Inflation

Savings, Interest Rates, and the Market for Loanable Funds

Financial Markets and Securities

Economic Growth and the Wealth of Nations

Growth Theory

The Great Recession, the Great Depression, and Great Macroeconomic Debates

Federal Budgets: the Tools of Fiscal Policy

Fiscal Policy

Money and the Federal Reserve

Monetary Policy Learning Objectives

International Trade

International Finance

Filters

Exam 13: The Aggregate Demandaggregate Supply Model

Suppose the government permanently reduces spending in an effort to reduce the budget deficit. In the new long-run equilibrium, output will ________ and the price level will ________.

How does the wealth effect explain the slope of the aggregate demand curve?

If the price level falls but workers are reluctant to accept a pay cut, this is an example of

When saving declines, the quantity of investment will ________, and therefore aggregate demand will ________.

If inflation turns out to be higher than expected, this will

When a change in the price level leads to a change in the interest rate and thus a change in the quantity of aggregate demand, it is called the ________ effect.

If large emerging economies continue to grow rapidly, we can expect U.S. aggregate

When foreign income rises, U.S. aggregate

When U.S. goods become more expensive relative to foreign goods, exports will ________ and imports will ________.

Shifts in the short-run aggregate supply curve are caused by

The table identifies annual gross domestic product GDP) in billions of dollars) for country X. Year GDP Year GDP 2006 1,107 2011 2,614 2007 1,397 2012 2,460 2008 1,695 2013 2,465 2009 1,667 2014 2,417 2010 2,208 2015 1,774 Based on the table, during which years) was the country in a recession?

________ would cause a leftward shift of the aggregate demand curve.

The aggregate demand curve illustrates the

The long-run aggregate supply curve is

Suppose that many of our trading partners in Europe sink into recession. In the short run, output in the United States will ________ and the price level will ________.

The value of one's accumulated assets is best defined as

What is the difference between a movement along the aggregate demand curve and a shift of the aggregate demand curve? Explain in terms of what causes a movement and what causes a shift.

If the current short-run equilibrium level of output is greater than full-employment output, we can then expect that in the long run the

An increase in the price level will ________ the real value of wealth and, as a result, there will be ________ the aggregate demand curve.

The interest rate effect results from people

Five Foundations of Economics

Model Building and Gains From Trade

The Market at Work: Supply and Demand

Market Outcomes and Tax Incidence

Price Controls

Introduction to Macroeconomics and Gross Domestic Product

Unemployment

The Price Level and Inflation

Savings, Interest Rates, and the Market for Loanable Funds

Financial Markets and Securities

Economic Growth and the Wealth of Nations

Growth Theory

The Great Recession, the Great Depression, and Great Macroeconomic Debates

Federal Budgets: the Tools of Fiscal Policy

Fiscal Policy

Money and the Federal Reserve

Monetary Policy Learning Objectives

International Trade

International Finance

Filters

Suppose the government permanently reduces spending in an effort to reduce the budget deficit. In the new long-run equilibrium, output will and the price level will .

When saving declines, the quantity of investment will , and therefore aggregate demand will .

When U.S. goods become more expensive relative to foreign goods, exports will and imports will .

Suppose that many of our trading partners in Europe sink into recession. In the short run, output in the United States will and the price level will .

An increase in the price level will the real value of wealth and, as a result, there will be the aggregate demand curve.