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10 terms

Final Econ101

economics
STUDY
PLAY
External shocks to an economy include:
Disruptions in trade, wars, and natural disasters.
Which of the following are policy levers?
Government regulation, tax policy, and the availability of money
Aggregate demand:
Refers to the collective behavior of all buyers.
The value of output in constant prices is measured by:
Real GDP.
According to the real balances effect, when the price level:
Falls, cash is worth more and therefore people buy more.
Which of the following suggests that lower average prices stimulate more borrowing?
The interest rate effect
The inability of labor-force participants to find jobs is known as:
Unemployment.
An increase in the average level of prices of goods and services is known as:
Inflation.
Fiscal policy includes:
An increase in taxes.
Which of the following could cause a recession?
A decline in aggregate demand