Essay
Write each of the following words or phrases in the correct column in the table: costs of production, technology, income tax, sales tax, GST, interest rates, transfer payments, level of workers' productivity, cost of imported raw materials, government spending, savings, expectations about inflation, capital stock, level of labour force, a wage award, net exports.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: The short-run equilibrium level of real GDP
Q3: According to Okun's law, if real GDP
Q4: The slope of the AD curve only
Q5: Okun's law looks at the relationship between:<br>A)inflation
Q6: Keynes attempted to explain:<br>A)short-run economic fluctuations and
Q7: The aggregate-demand curve is downward-sloping because of
Q8: The aggregate-supply curve shows:<br>A)the quantity of goods
Q9: For a given level of inflation, if
Q10: If there is an increase in both
Q11: Starting with AD₁ and AS<sub>1</sub> in the