Suppose that the U.S. economy is initially in Long Run Macroeconomic Equilibrium. A decrease in the real interest rate will lead the U.S. price level to ____ in the short-run, and the U.S. price level to ____ in the long run.  

Year Price of a Smoothie Price of a Pizza 2022 (base) $4.50 $12.00 2023 $4.75 $12.25 2024 $5.25 $12.25 Refer to the table above. Suppose that the average urban family of four consumes 30 smoothies and 45 pizzas. The value of the CPI is ____ in 2024.

Suppose that the U.S. economy is initially in Long Run Macroeconomic Equilibrium. A depreciation of the U.S. Dollar (meaning, a decrease in the U.S. Dollar exchange rate) will lead U.S. real GDP to ____ in the short-run, and U.S. real GDP to ____ in the long run.  

Suppose that the U.S. economy is initially in Long Run Macroeconomic Equilibrium. A reduction in households’ expected future income will lead the U.S. ____ curve to shift and create a(n) ____ in the short run. 

Year Price of a Smoothie Price of a Pizza 2022 (base) $4.50 $12.00 2023 $4.75 $12.25 2024 $5.25 $12.25 Refer to the table above. Suppose that the average urban family of four consumes 30 smoothies and 45 pizzas. The inflation rate is ____ in 2023. Round your answer to the nearest one-tenth of one percent.

Year Quantity of Burritos Quantity of Tacos Price of a Burrito Price of a Taco 2022 (base) 425 burritos 760 tacos $6.00 $2.50 2023 440 burritos 780 tacos $6.50 $2.70 2024 485 burritos 800 tacos $7.00 $2.80 Refer to the table above. Suppose that burritos and tacos are the only two final goods produced in this economy. The value of Real GDP in 2024 is _____.

Year Quantity of Burritos Quantity of Tacos Price of a Burrito Price of a Taco 2022 (base) 425 burritos 760 tacos $6.00 $2.50 2023 440 burritos 780 tacos $6.50 $2.70 2024 485 burritos 800 tacos $7.00 $2.80 Refer to the table above. Suppose that burritos and tacos are the only two final goods produced in this economy. The value of Real GDP in 2023 is _____.

Labor Market Category Knightland Rushia Employed 300,000 460,000 Unemployed 40,000 50,000 Not in the Labor Force 210,000 210,000 Refer to the table above. The Unemployment Rate in Knightland is approximately ____. Round your answer to the nearest one-tenth of one percent.

Labor Market Category Knightland Rushia Employed 300,000 460,000 Unemployed 40,000 50,000 Not in the Labor Force 210,000 210,000 Refer to the table above. The Unemployment Rate in Rushia is approximately ____. Round your answer to the nearest one-tenth of one percent.

Suppose that the U.S. economy is initially in Long Run Macroeconomic Equilibrium. An appreciation of the U.S. Dollar (meaning, an increase in the U.S. Dollar exchange rate) will lead U.S. real GDP to ____ in the short-run, and U.S. real GDP to ____ in the long run.