When the economy is experiencing an expansion, automatic stabilizers will cause:

When the economy is experiencing an expansion, automatic stabilizers will cause:

The table provides some data on real GDP and the population of Candyland in 1997 and 1998. What is real GDP per person in Candyland in 1997?  The real GDP person is $______

What is the effect on China’s aggregate demand when the United States goes into an expansionary period? When the United States goes into an expansionary, China’s aggregate demand _______.

An increase in government purchases will cause what kind of shift of the aggregate demand curve?

The graph shows an economy’s aggregate demand and aggregate supply curves and potential GDP.   What is the price level when this economy returns to full employment?

Beaux just purchased homeowners insurance that has personal property coverage based on actual cash value.  His policy is more expensive than if he had replacement cost coverage for his personal property.  

The English economist William Stanley Jevons described a world tour during the 1880s by a French​ singer, Mademoiselle Zelie. One stop on the tour was a theater in the Society​ Islands, part of French Polynesia in the South Pacific. She performed for her usual​ fee, which was​ one-third of the receipts. This turned out to be three​ pigs, 23​ turkeys, 44​ chickens, 5000​ coconuts, and​ “considerable quantities of​ bananas, lemons, and​ oranges.” She estimated that all of this would have had a value in France of 4000 francs. According to​ Jevons, “as Mademoiselle could not consume any considerable portion of the receipts​ herself, it became necessary in the meantime to feed the pigs and poultry with the​ fruit.”   (​Source: W. Stanley Jevons​, Money and the Mechanism of Exchange​, New​ York: D. Appleton and​ Company, 1889, pp.​ 1-2.) Do the goods Mademoiselle Zelie received as payment fulfill the three functions of money?  

An increase in government purchases will cause what kind of shift of the aggregate demand curve?

At the end of 2021, a country’s national debt was $750 billion. In 2022, the government spent $150 billion and ended the year with a debt of $795 billion. How much did the government receive in tax revenues in 2022? The government received $_____ billion in tax revenues in 2022.