5 Steps to a 5 AP Macroeconomics 2019
120 ❯ Step 4. Review the Knowledge You Need to Score High Supply Shocks and the Phillips Curve We saw that when SRAS shifts to t ...
Aggregate Demand and Aggregate Supply ❮ 121 The Long-Run Phillips Curve The AD and AS model presumes that the longrun AS curve ...
122 ❯ Step 4. Review the Knowledge You Need to Score High The point at 5 percent inflation and 2 percent unemployment will not l ...
Aggregate Demand and Aggregate Supply ❮ 123 Equilibrium real GDP is far below full employ ment, and the government lowers hous ...
124 ❯ Step 4. Review the Knowledge You Need to Score High ❯ Rapid Review Aggregate demand (AD): The inverse relationship between ...
Aggregate Demand and Aggregate Supply ❮ 125 Deflation: A sustained falling price level, usually due to severely weakened aggrega ...
126 ❯ KEY IDEA IN THIS CHAPTER Summary: The model of AD and AS is a useful mechanism for looking at how the macroeconomy can be ...
Fiscal Policy, Economic Growth, and Productivity ❮ 127 Expansionary Fiscal Policy When the economy is suffering a recession, rea ...
128 ❯ Step 4. Review the Knowledge You Need to Score High Are Prices Sticky? Do prices fall, as Figure 10.2 seems to indicate? O ...
Fiscal Policy, Economic Growth, and Productivity ❮ 129 stimulate investment and consumption, which counters the contractionary f ...
130 ❯ Step 4. Review the Knowledge You Need to Score High KEY IDEA 10.2 Difficulties of Fiscal Policy Main Topics: Crowding Out, ...
Fiscal Policy, Economic Growth, and Productivity ❮ 131 To see the full impact of crowding out, let’s go back to a horizontal SRA ...
132 ❯ Step 4. Review the Knowledge You Need to Score High Other popular macroeconomics textbooks, including the one that your te ...
Fiscal Policy, Economic Growth, and Productivity ❮ 133 When the price of a dollar rises from E 0 to E 1 , it now becomes more ex ...
134 ❯ Step 4. Review the Knowledge You Need to Score High county income tax. Meanwhile, programs like education, law enforcement ...
Fiscal Policy, Economic Growth, and Productivity ❮ 135 Determinants of Productivity The determinants of productivity help to exp ...
136 ❯ Step 4. Review the Knowledge You Need to Score High “Productivity-friendly” policies should make it easier to invest, easi ...
Fiscal Policy, Economic Growth, and Productivity ❮ 137 Though not all economists completely agree with their effectiveness, supp ...
138 ❯ Step 4. Review the Knowledge You Need to Score High ❯ Answers and Explanations The crowding-out effect from government bo ...
Fiscal Policy, Economic Growth, and Productivity ❮ 139 ❯ Rapid Review Fiscal policy: Deliberate changes in government spending a ...
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