Aggregate Demand and Aggregate Supply
According to classical macroeconomic theory, changes in the money supply change nominal but not real
LOC: Aggregate demand and aggregate supply
Money Growth and Inflation
The inflation rate is measured as the percentage change in a price index.
LOC: Unemployment and inflation
U.S. prices rose a
The Theory of Consumer Choice
The theory of consumer choice illustrates that people face tradeoffs, which is one of the Ten Principles of
LOC: Utility and consumer choice
Income Inequality and Poverty
The poverty line is set by the government so that 10 percent of all families fall below that line and are thereby
classified as poor.
LOC: The study of economics,