Aggregate supply curve - Study guides, Class notes & Summaries
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Edexcel A-level Economics Paper 2 Questions & Answers 100% Correct!
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Macroeconomics - ANSWERSThe study of the economy as a whole, including inflation, growth and unemployment. 
 
Aggregate demand - ANSWERSThe total of all demands or expenditures in the economy at any given price. 
 
Aggregate demand curve - ANSWERSShows the relationship between the price level and equilibrium national income. As the price level rises the equilibrium level of national income falls. 
 
Animal spirits - ANSWERSBusiness confidence: the mood of managers and owners of firms about the f...
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WGU C211 Pre- Assessment Global Economics for Managers Exam | Real Questions and Verified Answers| 100% Correct (New 2023/ 2024 Update) Graded A
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WGU C211 Pre- Assessment Global 
Economics for Managers Exam | Real 
Questions and Verified Answers| 100% 
Correct (New 2023/ 2024 Update) Graded A 
 
QUESTION 
What is one way the Federal Reserve influences the reserve ratio? 
 
 
Answer: 
By altering reserve requirements 
 
 
 
QUESTION 
Which fiscal policy would be most effective at raising consumer spending and expanding 
aggregate demand? 
 
 
Answer: 
Lowering target interest rates 
 
 
 
QUESTION 
What is the effect of an increase ...
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AP Macroeconomics Exam Questions Marking Scheme New Update (Verified A+ Pass)
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AP Macroeconomics Exam Questions Marking Scheme New Update (Verified A+ Pass) 
 
Movement on Short-Run Phillips Curve - Answers - Shift in AD (graph movement is in opposite direction) 
 
Shift of Short-Run Phillips Curve - Answers - Shift in SRAS (shift is in opposite direction) 
 
Shift of Long-Run Phillips Curve - Answers - Factors of Production/Shift in LRAS (shift is in opposite direction) 
 
Factors of Production - Answers - 1. Land 
2. Labor 
3. Capital 
4. Technology 
5. Sometimes Foreign...
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Ivy Software MBA Prepworks Fundamentals of Economics / Ivy Software MBA Prepworks Fundamentals of Economics questions with correct answers
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Ivy Software MBA Prepworks 
Fundamentals of Economics / 
Ivy Software MBA Prepworks 
Fundamentals of Economics 
questions with correct 
answers 
Assume that the economy is currently at potential real GDP. Which 
of the following would put the economy in an inflationary gap? 
A) Temporary increase in wages 
B) greater stock market wealth 
C) higher business taxes 
D) decrease in income abroad - ANSWER-greater stock market 
wealth 
If an economy is producing below its potential real GDP, then it i...
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ECN 211: Final Exam Questions & Revised Correct Answers Latest Update | Already Passed!!
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ECN 211: Final Exam Questions & 
Revised Correct Answers 
Latest Update | Already Passed!! 
Real GDP is commonly used for what? - ANSWER : 
Short run changes. 
When real GDP falls, so does what? - ANSWER : - 
Personal income 
- Corporate profits 
- Consumer spending 
- Investment spending 
- Industrial production 
When the overall economy declines that is due to what? - 
ANSWER : - Reduction in spending in factories 
- Housing 
- Inventory 
When real GDP declines, what happens to the 
une...
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AP Macroeconomics Exam Review 2024 with 100% correct answers
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aggregate demand curve - correct answer a curve depicting the relationship between real GDP demanded (i.e., expenditures) and the price level in the economy; the aggregate demand curve slopes downward from left to right. 
 
aggregate supply curve - correct answer a curve defining the relationship between real production and price level. 
 
business cycles - correct answer fluctuations in real GDP around the trend value; also called economic fluctuations. 
 
consumer surplus - correct answer the ...
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ECN 211 ASU Exam 3 With Questions and Correct Answers.
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ECN 211 ASU Exam 3 With Questions and Correct Answers. 
Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. 
 
-caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply 
Depression - ANSWER a severe period of falling incomes and rising unemployment ex. 
Great Depression 
The Business Cycle - ANSWER the short-run fluctuations of the economy 
Economic Fluctuations - ANSWER -are irregular and unpredictable 
-most macroeconomic variables ...
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ECN 211 ASU Exam 3 With Questions and Correct Answers.
- Exam (elaborations) • 14 pages • 2024
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ECN 211 ASU Exam 3 With Questions and Correct Answers. 
Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. 
 
-caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply 
Depression - ANSWER a severe period of falling incomes and rising unemployment ex. 
Great Depression 
The Business Cycle - ANSWER the short-run fluctuations of the economy 
Economic Fluctuations - ANSWER -are irregular and unpredictable 
-most macroeconomic variables ...
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(Combined) Chapter 13-17 Quiz macro, Practice Final Econ, Macro Exam 2 (HW 7), Econ Test 2, MACRO MIDTERM, Macroeconomics Exam 1, Quiz 7, Economics Chapter 16, Chapter 5, 14,15,16 (Mid-Term), Chapter 12 Macro Review Questions, Economics Homework, Macro Te
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(Combined) Chapter 13-17 Quiz macro, Practice Final Econ, Macro Exam 2 (HW 7), Econ Test 2, MACRO MIDTERM, Macroeconomics Exam 1, Quiz 7, Economics Chapter 16, Chapter 5, 14,15,16 (Mid-Term), Chapter 12 Macro Review Questions, Economics Homework, Macro Test 2, All With Complete Verified Solutions 2023/2024 
 
The basic aggregate demand and aggregate supply curve model helps explain ________ fluctuations in real GDP and the price level. 
Short term 
Which of the following is one explanation as to...
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ECN 211 ASU Exam 3 With Questions and Correct Answers.
- Exam (elaborations) • 14 pages • 2024
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ECN 211 ASU Exam 3 With Questions and Correct Answers. 
Recession - ANSWER -a period of mildly falling incomes and rising unemployment ex. 
 
-caused by a leftward shift in aggregate demand and a leftward shift in aggregate supply 
Depression - ANSWER a severe period of falling incomes and rising unemployment ex. 
Great Depression 
The Business Cycle - ANSWER the short-run fluctuations of the economy 
Economic Fluctuations - ANSWER -are irregular and unpredictable 
-most macroeconomic variables ...
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