Macroeconomics Chapter 11-14 plus 19

Trade balance is

The long run is best defined as a period of time such that

An example of physical capital is

A supply shock causes a shift in

For country A, an export is a good produced in

Keynesian economists believe that

Which of the following would be classified as a natural resource?

Long-run per capita world income growth was basically flat until around what year?

For nearly four decades, the United States has had a

An increase in aggregate demand is harmful because

An economy that does not trade with the rest of the world is a(n) ________ economy.

A firm’s human capital would increase with

The Great Recession ended in

Higher rates of real per capita gross domestic product (GDP) are negatively correlated with

Average world income began to increase rapidly during the

Which of the following are the three major categories of resources?

Which two countries buy the most U.S. exports?

The Great Recession began in

Aggregate demand is about ________ and aggregate supply is about ________.

The Great Depression ended in

How many recessions have there been in the United States since 1982?

When the U.S. aggregate demand curve shifted to the left during the Great Depression,

The aggregate demand curve is best represented by which of the following equations?

Nominal gross domestic product (GDP) is a poor measure of economic growth because it

The value of one’s accumulated assets is best defined as

An increase in the value of the dollar will

A(n) ________ in the amount of resources will tend to ________ economic growth.

Classical economists believe that

In regard to describing how the economy functions, Keynesian economists claim that

Shifts in the aggregate demand curve are caused by

According to the textbook, which of the following countries is NOT considered a wealthy nation?

In 2013, U.S. gross domestic product (GDP) was roughly

Economic growth is defined as the percent change of