Macroeconomics Unit 5 (Philips Curve; Unemployment) Flashcards

1

Contractionary policy...

2

A positive output gap is associated with

3

The Phillips curve shows the short run trade off between

4

A change in the money supply leads to

5

Expansionary policy...

6

Inflation caused by a significant increase in the price of an input witheconomy-wide importance

7

Inflationthat is caused by an increase in aggregate demand?

8

Which is an example of an implicit liability?

9

Tax imposed on the public caused by the government printing money to cover debt

10

In the long run, changes in the money supply affect ONLY

Macroeconomics Unit 5 (Philips Curve; Unemployment)