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Essay about econ 102 midterm 2

Increase in the minimum wage willincrease structural unemploymentPer-worker functionrelationship between real GDP per hour worked and capital per hour, holding essay about econ 102 midterm 2 level of technology constant. Exhibits diminishing returns to capitalWhen business taxes increase, the equilibrium interest assignment research question will _____decreasePotential GDP issometimes greater, sometimes less, and sometimes equal to actual real GDPIf the government runs a deficit, what impact will this have on the loanable funds marketthe supply of loanable funds will decreaseReal InterestNominal-Interest RateDecreased optimism about the future willshift left the aggregate demand lineThe aggregate demand and aggregate supply model explainsshort-run fluctuations in real GDP and the price levelThe value of the multiplier is larger whenthe value of the MPC is largerCurve showing the relationship between the price level and the level of aggregate expenditure in the economyAggregate DemandAn unexpected change in the price of oil is calleda supply shockWhat is true about the basic or static aggregate demand and aggregate supply model?The economy does not experience long-run growthThe notion that future growth in the US is unlikely to match up to growth that we have become accustomed to is calledSecular StagflationWhat is an example of a growth policy?Infrastructure investmentHow do we measure long-run economic growth?GDP per capita;.

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