Krugman Section 4 Module 18
AS is a schedule showing level of
real domestic output available at
each possible price level.
Possible Shapes of Aggregate
Short Run Supply Curve
Horizontal SRAS Curve
Problem Set #4
The Real Wage is .952
Natural Rate of Unemployment is 4.8%
Real Wage is .91
The Natural Rate of Unemployment
Since there is a trade deficit, this indicates that the investments made by the country are greater
than the savings (public and private), that is the country is borrowing more than it is lending.
This creates a situation where the actual level
Econ 202 Macro Theory
Problem Set #7
1. Given the information, in terms of fiscal policy, a decrease in government spending can
be used. As government spending decreases, output decreases, which would lower the
demand of domestic goods. In ter
DEAN OF STUDENTS REFERENCE FORM
All non-Degree Seeking Students who apply to study abroad at Ashesi must complete the top half of this form and have
the bottom portion completed by their current universitys Dean of Students Ofce. Once the entire
PROBLEM SET 3
March 15, 2006
Due March 22, 2006
I. Answer each as True, False, or Uncertain, and explain your choice.
1. Wages are usually below the reservation wage in Europe because the unemployment rate in Europe is so high.
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