Econ 104- quiz 7 bill goffe Newest Actual Exam With Complete Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+

Econ 104- quiz 7 bill goffe Newest Actual Exam With
Complete Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+




If cost to business increase, for the same P, they would _____ production. Or, for
the same production (y), they would ____ prices.


Cut and increase


The Fed stimulates the economy. Thus interest rates _____, __ curve shifts, and Y
____


decreases, AD, increases


What happens if interest rates decrease?


C and I increase


What happens if there is more spending?


P increases

, What happens if P increases?


more production which increases Y and P


Using the AD and SRAS curves, analyze the economy in the right order


event, curve shifts, new equilibrium, new P and Y


What is one of the most common causes of recessions?


oil shocks


What is the impact on P and Y if G rises?


As a result of the change in G, there is inflation (p) and expansions (y)


What does P measure?


GDP deflator measures price level


What does Y measure?


real GDP measures production, income, and spending


P and Y are determined by what?


P and Y determined by intersection of AD and SRAS