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B2 stem 1 Changes in Economic and Business Cycles 1) An middle up in amount of money demand causations the proportion worth train to rise and equilibrium outfit (real gross domestic product) to adjoin. (Shift right) a. A decrease in compound demand causes the equilibrium price direct to ebb10 b. As come demand falls, un workplace rises, and GDP declines 2) An add-on in aggregate supply will cause real output to broaden (GDP) and the price level to fall. (Shift right) a. working out in input be would stir the aggregate supply to the go away resulting in a GDP decline and augment in price level (Shift left) b. a 3) During recessions, capability output (GDP) will exceed actual output (GDP) 4) nook is defined as falling GDP and rise unemployment 5) most expository set of fiscal policy is increase in government purchases and decrease in taxes 6) If the dollar gains in value, web exports will suffer as US goods becomes much expensive, aggregate demand will decrease. The supply of foreign goods should increase as imports become cheaper. 7) At business cycle peak, highest gunpoint of stinting activity. Firms likely face capacity constraints and labor shortages. 8) Increase in resources in the economy will be loose of producing much goods and services.

9) Real GDP per capita is real GDP separate by population, measure used to compare standards of living across countries B2 Topic 2 Economic Measures/Indicators 1) Aggregate demand increase (shift right) and aggr egate supply decrease (shift left) lead to t! he most inflation a. pecuniary value Push inflation caused by a shift left in aggregate supply b. Demand winding inflation caused by a shift right in aggregate demand 2) Unemployment a. geomorphologic Individuals do not take in qualifications or skills necessary to subscribe to available jobs b. Cyclical none at ample employment caused by business cycles c. Frictional...If you hope to get a full essay, order it on our website: OrderCustomPaper.com

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