Exam 9: Real GDP and the Price Level in the Long Run

Other things being equal, appreciation of the dollar

What are the three forces that cause the aggregate demand curve to slope down? Explain.

An increase in the level of prices of goods and services will do what to the long-run aggregate supply curve?

Aggregate supply is

Which of the following will cause the long-run aggregate supply curve to shift? I. Changes in technology II. Changes in government spending III. Changes in the money supply

If you have $1,000 and the Gross Domestic Product (GDP)deflator increases from 100 to 120, then

Over time in a growing economy, the long run aggregate supply curve will

-Consider the above figure. At a price level of 150

The real-balance effect implies that when

When the price level declines

The full-employment and full-adjustment level of real Gross Domestic Product (GDP)in the economy is represented by

The real-balance effect indicates that at higher price levels

Economic growth can be shown by

The long-run aggregate supply curve is determined by all of the following EXCEPT

Which of the following will NOT cause a leftward shift in the Long-Run Aggregate Supply curve?

Which one of the following would NOT increase aggregate demand?

To find an economy's long-run equilibrium price level, locate the point where ________ and ________ cross and look to the left.

-In the above figure, the long-run equilibrium real GDP is

The aggregate demand curve gives

In the long run, an increase in government spending, other things equal, generates