Chapter_10-11-12-13-14_Notes - Chapter 10 Q&A: 243;...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 10 Q&A: 243; 247; 253 Summary: 256-257 Graphs Production possibilities curve and the economy’s long-run aggregate supply curve Long-run aggregate supply curve and shifts in it: 241 Sample long-run growth path for real GDP: 242 Aggregate demand curve: 244 Determinants of aggregate demand: 247 Long-run economywide equilibrium: 248 Secular deflation versus long-run price stability in a growing company: 249 Inflation rates in the US: 250 Explaining persistent inflation: 251 Real GDP and the price level in the US, 1970 to the present Aggregate demand curve (AD): 244; 247 Aggregate demands: 243 Aggregate supply: 240 Base-year dollars: 241 Brain drain: 242 Endowments: 241 Interest rate effect: 245 Long-run (trend) aggregate supply curve (LRAS): 240 Open economy effect: 246 Price level: 245 Real-balance (wealth) effect: 245 Secular deflation: 249 Chapter 11 Q&A: 268; 274; 279 Summary: 282-284 Graphs Say’s law and the circular flow: 263 Equating desired saving and investment in the classical model: 264 Saving and investment in industrialized and emerging nations since 1970: 265 Relationship between employment and real GDP: 266 Classical theory and increases in aggregate demand: 267 Effect of a decrease in aggregate demand in the classical model: 268
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/08/2010 for the course ECON 002 taught by Professor Mcleod,markpehlivan,ayseozg during the Summer '08 term at Pennsylvania State University, University Park.

Page1 / 3

Chapter_10-11-12-13-14_Notes - Chapter 10 Q&A: 243;...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online