Rgdp Study guides, Class notes & Summaries

Sophia Marcoeconomics Milestone 2 1 Select the TRUE statement below regarding aggregate supply in the short and long run. In the long run, there are no limits on production. The relationship between price level and RGDP is negative in the short run. The LRAS curve can move over time. In the long run, there is a close relat

Which statement below regarding aggregate demand is true? - correct answer It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? - correct answer The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. - correct answer There is no relationship between price level and RGDP. If an excise t...

this has all the notes required by AQA economics a level specification. Includes diagrams and easy explanations

Macroeconomics Exam 1 – Complete Questions & Answers (100% Correct) US annual population growth rate: -ANSWER - n=1% per year in US in the last century US optimal target inflation rate: -ANSWER - p*=1% per year The ranking of the quality of this macroeconomics course: -ANSWER - Ranking=#1 (where #1 is the best of the best) US long-run average annual growth rate in RGDP per capita: -ANSWER - gpc*=g*-p*=3%-1%=2% US long-run average annual real interest rate on low-risk loans: -ANS...

ECON 2006 FINAL Exam Questions with 100% Correct Answers Smaller the value of the multiplier, because when people save more, they spend less, and decrease the overall spending multiplier - Holding everything else constant in an economy, the larger the MPS, the: A) smaller the value of the multiplier. B) larger the value of the multiplier. 5,000 + .7YD, because Autonomous consumer spending is 5,000; and MPC is .7 (100 dollar increase, spend 70) - Assume aggregate consumer spending equals...

CHAPTER 1: Introduction to Macroeconomics MULTIPLE CHOICE 1. A central topic of study in macroeconomics is ________, while a central topic of study in microeconomics is ________. a. the cosmos; particle physics b. the overall performance of an economy; an individual market c. an individual market; the overall performance of an economy d. the performance of international trade; the individual firm e. consumer behavior; firm behavior ANS: B DIF: Easy REF: 1.1 TOP: I. MSC: Remember...

Macroeconomics - Exam Questions scarcity exists because of: - CORRECT ANSWER-unlimited wants and limited resources the basic difference between macroeconomics and microeconomics is: - CORRECT ANSWER-micro concentrates on the behavior of the individual consumers and firms, while macro focuses on the performance of the entire country additions to human capital can be made through: - CORRECT ANSWER-improved education and on-the-job training an example of physical capital is: a - a $10...

Which statement below regarding aggregate demand is true? - correct answer It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? - correct answer The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. - correct answer There is no relationship between price level and RGDP. If an excise t...

The document contains notes that goes over the first 3 quizzes of the course and are really in depth in terms of helping you study

Which statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price level and RGDP. If an excise tax is imposed on a product, which of the following wil...