Quiz Questions with 100% Correct Answers:
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The globalized AS/AD curve is the standard AS/AD model with an added
According to Say's Law, people
A shift in the long-run aggregate supply curve will change
The hypothesis about the macroeconomy that sees the recent problems with the U.S. economy directly related to the structural problems caused by globalization is referred to as the __________ hypothesis. The central difference between the standard theory and the structural stagnation hypothesis when it comes to growth is
In 2009, the personal savings rate rose. If the additional savings were not translated into investment, Keynes would predict that aggregate income would.
According to the Keynesian model,
The study of economic growth focuses on the factors that cause an
Answers
The globalized AS/AD curve is the standard AS/AD model with an added
world supply curve
According to Say's Law, people
supply goods in order to obtain other goods
A shift in the long-run aggregate supply curve will change
both output and the price level
The hypothesis about the macroeconomy that sees the recent problems with the U.S. economy directly related to the structural problems caused by globalization is referred to as the __________ hypothesis.
structural stagnation
The central difference between the standard theory and the structural stagnation hypothesis when it comes to growth is
the trend growth rate
In 2009, the personal savings rate rose. If the additional savings were not translated into investment, Keynes would predict that aggregate income would.
decline and remain there
According to the Keynesian model,
the price level is fixed due to social forces, which keeps the economy from remaining at an equilibrium level of unemployment
The study of economic growth focuses on the factors that cause an
economy's production possibility curve to shift out
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