Economics chapter 10 homework

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Economics chapter 10 homework in 2021

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Economics chapter 10 test quizlet

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What does a macroeconomist believe about the economy?

A ___ macroeconomist believes that the economy is self-regulating and always at full employment. A ___ macroeconomist believes the economy requires active help from fiscal policy and monetary policy to maintain full employment. A). Keynesian; new Keynesian

What happens to aggregate demand in a full employment economy?

Everything else remaining the same, an increase in aggregate demand increases ___. If an economy is at full-employment equilibrium and a decrease in consumption expenditure occurs, the new short-run equilibrium is ___ and ___ gap emerges.

When is the money wage rate and potential GDP the same?

When the price level, the money wage rate, and other factor prices rise by the same percentage, there is a movement along ___. Potential GDP ___. when the price level rises but the money wage rage and other factor prices remain the same, there is a movement along ___. the quantity of real GDP supplied ___.

Last Update: Oct 2021


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