The Phillips Curve Study guides, Class notes & Summaries

CBE Exam capital expenditures= gross investment-net lending - correct answer formula to calculate household capital expenditures people living in institutions and members of the armed forces - correct answer who is excluded from the bureau of labor statistics household survey for employment by weight - correct answer how does the bureau of labor statistics measure the price of goods in the short run when inflation is unanticipated - correct answer when can policymakers lower unemployme...

Econometrics Midterm & Final Exam Questions and answers Econometrics -Answer-The science of testing economic theories. Also it works as a set of tools used for forecasting future values of economic variables as well as being the process of fitting mathematical economic models to real world data. Econometrics uses historical data to make numerical, or quantitative, policy recommendations in government and business. Y-bar -Answer-The sampling average. It is an unbiased estimator for miuY, ...

Williams AP Macroeconomics Exam Latest 2023 Positive Economics - the analysis of facts or data to establish scientific generalizations about economic behavior Normative Economics - Beliefs, or value judgements about what ought to be. Normative statements cannot be true or false; they can only be assessed relative to beliefs and value judgements. Microeconomics - the study of how households and firms make decisions and how they interact in markets Macroeconomics - the study of economy-w...

AP Macroeconomics Exam with Complete Solution 2023 aggregate demand curve - 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 - a curve defining the relationship between real production and price level. business cycles - fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus - the differ...

Macroeconomic Challenges: Unemployment and Inflation Unemployment Rates by Gender Unemployment in September 2018 hit the lowest level since the Vietnam War, with little indication it is going to shoot back up in the near term. The jobless rate fell to 3.7%, the lowest since December 1969, the Labor Department said Friday. Employers added 134,000 jobs to payrolls, a record 96th straight month of gains. Wages rose 2.8% from a year earlier, a solid if still unspectacular rise. Unemployment ra...

1. GM announced that it will close its Oshawa truck plant in 2009 and a Windsor transmission plant in 2010. Ford also plans a 10 percent cut in white-collar, salaried positions. In total, over 4,000 direct jobs will be lost. This is chilling news for Ontario, because for every job in an assembly plant, there are 7.5 jobs with auto-parts suppliers and other companies. Using appropriate diagrams, answer the following questions. (10 marks) a. Is there a trade-off between the unemployment rate a...

AP Macroeconomics Exam Review Questions and Answers A Score 1. Movement on Short-Run Phillips Curve: Shift in AD (graph move opposite direction) 2. Shift of Short-Run Phillips Curve: Shift in SRAS (shift is in oppo 3. Factors of Production: 1. Land 2. Labor 3. Capital 4. Technology 4. Shifters of Demand for Loanable Funds: 1. Incentive to Invest 2. Contractionary Fiscal Policy (to the right) 5. Shifters of Supply of Loanable Funds: 1. Incentive to Save 2. Monetary Policy 3. Expansio...

The interest rate that banks are charged when they borrow from Fed - ANSWER-discount rate Simultaneous increase in the money supply and reduction in government spending. - ANSWER-r will decrease Expansionary Fiscal policy - ANSWER-AE ^, Y ^, Md ^, r ^, I v, AE v Increase in the money supply will cause planned investment to ______ and consumption to _____ - ANSWER-Increase, increase Demand-Pull inflation is characterized by - ANSWER-AD curve shifting right Factors that lad to incre...

Demand Curve Shift Upward (direct relationship-positive shift) The price of subsitute goods, expectations of price changes, income for normal goods, and extent of market Demand Curve Shift Downward (inverse relationship-neg. shift) The price of complement good, income for inferior goods, and consumer boycotts SWOT analysis strengths, weaknesses, opportunities, threats Three common measures of price inflation: 1. The Consumer Price Index (CP) 2. The Producer Price Index (PPI) 3. The GDP ...

Sophia Marcoeconomics Milestone 4 1 Which statement below regarding the stagflation of the late 1970s/early 1980s is true? The Phillips curve represented the state of the economy at the time. Expansionary fiscal policies succeeded in lowering the unemployment rate. Expansionary fiscal policy led to double digit inflation. Disruptions in the oil supply caused the LRAS curve to move to the left. CONCEPT Pros and Cons of Monetary and Fiscal Policy 2 Which of the following would be true o...