Exam 13: Business Fluctuations: Aggregate Demand and Supply

In the equation $\vec { M } + \vec { v } = \vec { P } + \vec { Y } _ { R }$ , what does $\bar { Y } _ { R }$ Stand for?

In the AD-AS model, a positive real shock drives up both inflation and the growth rate.

The first major event of the Great Depression was:

An unexpected increase in export growth is a:

The position of the long-run aggregate supply curve shows the economy's:

In India, shocks to the weather:

Use the following to answer questions: Figure: Two SRAS Curves -(Figure: Two SRAS Curves) The figure shows the AD-AS model with two SRAS curves. If the economy is initially at Point A and expected inflation rate remains unchanged, the economy can achieve a real GDP growth rate of 9% only by:

The five most recent U.S. recessions:

If spending growth is 3% and real GDP growth is 2%, what is the inflation rate?

The SRAS curve is upward-sloping because:

A decrease in spending growth will cause the economy's aggregate demand curve to:

The Solow growth rate is the rate of economic growth that would occur given:

What was one of the federal government policy failures in 1930 that contributed to the Great Depression?

In a typical year, good shocks outweigh bad shocks, and the economy grows.

Which of the following causes the AD curve to shift left?

The Black Plague is an example of a real shock.

An increase in spending growth will cause the economy's aggregate demand curve to:

Why have oil shocks become less economically important for the United States in recent years?

(Figure: Three Aggregate Demand Curves) Figure: Three Aggregate Demand Curves Consider the three aggregate demand curves shown in the graph. Movement from Point A to Point D represents:

The long-run aggregate supply curve describes an economy in which wages and prices are sticky.