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?

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

The graph shows an economy’s labor market in which labor income is taxed. What is the tax wedge? The tax wedge is $____ per hour.

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?

Suppose the economy is initially in long-run equilibrium. The Fed decides to increase the required reserve ratio. In the short-run, this contractionary monetary policy will cause:  

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 _______.

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 $______

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

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

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?