Study Guide for First Midterm
... 55. What do perfectly elastic and perfectly inelastic demand curves look like? 56. Which is more elastic, a short-run demand curve or a long-run demand curve? 57. What is the formula and what is the interpretation of income elasticity of demand? Be able to calculate it. 58. Define and explain the pr ...
... 55. What do perfectly elastic and perfectly inelastic demand curves look like? 56. Which is more elastic, a short-run demand curve or a long-run demand curve? 57. What is the formula and what is the interpretation of income elasticity of demand? Be able to calculate it. 58. Define and explain the pr ...
practice exam 3 macro questions
... B. A drop in the price level. C. An increase in the exchange rate for the dollar. D. An increase in the interest rate. 2. Which of the following will cause a decrease in aggregate demand in the United States? A. An increase in the price level. B. An decrease in the real interest rate (due to increas ...
... B. A drop in the price level. C. An increase in the exchange rate for the dollar. D. An increase in the interest rate. 2. Which of the following will cause a decrease in aggregate demand in the United States? A. An increase in the price level. B. An decrease in the real interest rate (due to increas ...
Chapters 12 and 13 Economic Indicators
... American depends on the size of the GDP and the population that intends to consume that pie. If the pie (GDP) were to grow by 5%, and consumers were to increase by 10%, the amount of pie available to each person would decrease, if it were equally shared. ...
... American depends on the size of the GDP and the population that intends to consume that pie. If the pie (GDP) were to grow by 5%, and consumers were to increase by 10%, the amount of pie available to each person would decrease, if it were equally shared. ...
總體經濟學 期末考 日期：97
... (A) raises consumption in both the short run and the long run. (B) lowers consumption in both the short run and the long run. (C) raises consumption in the short run but lowers it in the long run. (D) lowers consumption in the short run but raises it in the long run. 10. In response to a tax cut, th ...
... (A) raises consumption in both the short run and the long run. (B) lowers consumption in both the short run and the long run. (C) raises consumption in the short run but lowers it in the long run. (D) lowers consumption in the short run but raises it in the long run. 10. In response to a tax cut, th ...
Final Exam - Rose
... A. Along a linear, downward sloping demand curve, the price elasticity of demand will fall as prices fall. B. If demand is perfectly elastic, a decrease in supply will result in a fall in the equilibrium price but no change in the equilibrium output. C. A decrease in supply will cause a larger incre ...
... A. Along a linear, downward sloping demand curve, the price elasticity of demand will fall as prices fall. B. If demand is perfectly elastic, a decrease in supply will result in a fall in the equilibrium price but no change in the equilibrium output. C. A decrease in supply will cause a larger incre ...
Power Point Unit Four
... 1. Change in Inflationary Expectations If an increase in AD leads people to expect higher prices in the future. This increases labor and resource costs and decreases AS. (If people expect lower future prices then AS will increase) ...
... 1. Change in Inflationary Expectations If an increase in AD leads people to expect higher prices in the future. This increases labor and resource costs and decreases AS. (If people expect lower future prices then AS will increase) ...
Speech at The Euro and the Dollar in a Globalized... U.C. Santa Cruz, Santa Cruz, CA
... Another empirical strategy that has been used to identify possible indirect effects of globalization on pricing by domestic producers involves the use of sectoral data. The IMF study I mentioned is representative. It finds that a 10 percent increase in a sector’s import ratio—that is, the ratio of ...
... Another empirical strategy that has been used to identify possible indirect effects of globalization on pricing by domestic producers involves the use of sectoral data. The IMF study I mentioned is representative. It finds that a 10 percent increase in a sector’s import ratio—that is, the ratio of ...
Abstract
... First step is to simulate the effects of demand shocks in oil market on macroeconomic variables, such as GDP and inflation. Second step is to analyse the role of alternative monetary policies in amplifying or dampening the economy’s response to oil price shocks. Under new specification for the sourc ...
... First step is to simulate the effects of demand shocks in oil market on macroeconomic variables, such as GDP and inflation. Second step is to analyse the role of alternative monetary policies in amplifying or dampening the economy’s response to oil price shocks. Under new specification for the sourc ...
EMBARGOED UNTIL FRIDAY, JANUARY 11, 2008 1:00 P.M. EASTERN TIME OR UPON DELIVERY
... declined by 6.7 percent over the last year. 9 This is the largest decline in the 21-year history of the index. There has also been significant variation across metropolitan areas, illustrated in Exhibit 5. The largest decline among the 10 metro areas was in Miami, where prices have declined by 12.4 ...
... declined by 6.7 percent over the last year. 9 This is the largest decline in the 21-year history of the index. There has also been significant variation across metropolitan areas, illustrated in Exhibit 5. The largest decline among the 10 metro areas was in Miami, where prices have declined by 12.4 ...
A-level Economics Question paper Unit 01
... Extract E: The declining sales of newspapers and the growth of online news Traditionally, the main products sold by newspaper companies were newspapers themselves. Newspapers are generally regarded by economists as private goods. Newspaper companies earn revenue, partly from the price charged for th ...
... Extract E: The declining sales of newspapers and the growth of online news Traditionally, the main products sold by newspaper companies were newspapers themselves. Newspapers are generally regarded by economists as private goods. Newspaper companies earn revenue, partly from the price charged for th ...
Monopolistic Competition
... • The long run equilibrium of a market with monopolistic competition is achieved by the entry and exit of firms depending on short term profits/losses • In the long run economics profits will be zero • The long run in equilibrium for monopolistic competition has elements from both perfect competitio ...
... • The long run equilibrium of a market with monopolistic competition is achieved by the entry and exit of firms depending on short term profits/losses • In the long run economics profits will be zero • The long run in equilibrium for monopolistic competition has elements from both perfect competitio ...
Worksheet 3, chapter 9
... work fast and are strong enough to get the economy out of a recession. d. the key determinant to the level of economic activity is potential income. 3. What directly shifts the long-run AD curve? a. Sudden changes in C, I, or X – M caused by monetary or fiscal policy. b. Increase in input prices. c. ...
... work fast and are strong enough to get the economy out of a recession. d. the key determinant to the level of economic activity is potential income. 3. What directly shifts the long-run AD curve? a. Sudden changes in C, I, or X – M caused by monetary or fiscal policy. b. Increase in input prices. c. ...
Notes
... • Long-run level of output determined by productivity and labor force participation is called trend output or potential output. ...
... • Long-run level of output determined by productivity and labor force participation is called trend output or potential output. ...
FRBSF E L CONOMIC ETTER
... namely, the purchasing power of a given nominal wage. Such real wage increases may raise labor supply. Alternatively stated, lower import prices could reduce workers’ demands for nominal wage increases. Another indirect channel reflects the possibility that lower import prices may restrain the price ...
... namely, the purchasing power of a given nominal wage. Such real wage increases may raise labor supply. Alternatively stated, lower import prices could reduce workers’ demands for nominal wage increases. Another indirect channel reflects the possibility that lower import prices may restrain the price ...
Solutions
... sticky in‡ation relate to the Classical Dichotomy? Answer: The Classical Dichotomy refers to an assumption that says the following: in the long run, the nominal economy is completely separate from the real economy. This means that in the long run, money and nominal prices have no impacts on real var ...
... sticky in‡ation relate to the Classical Dichotomy? Answer: The Classical Dichotomy refers to an assumption that says the following: in the long run, the nominal economy is completely separate from the real economy. This means that in the long run, money and nominal prices have no impacts on real var ...
Economic Goals and how do we measure them
... Exports (X) – Imports (M) If it is not made here it is not part of GDP if it is a factory owned by the U.S. but is outside the boarders, it does not count. ...
... Exports (X) – Imports (M) If it is not made here it is not part of GDP if it is a factory owned by the U.S. but is outside the boarders, it does not count. ...