| Aggregated Demand | Aggregated Supply | Review | Miscellaneous |
|---|---|---|---|
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Summation of all the individual parts on the economy.
What are aggregates?
|
Real Domestic Output of producers based on the rise and fall of the price level.
What is Aggregated Supply?
|
Prolonged decline in the general price level of goods and services.
What is deflation?
|
Joe Biden
Who is currently the Vice President of the United States?
|
|
The total of all planned expenditures in the entire economy.
What is Aggregated Demand?
|
Aggregated Supply increases, , firms are experiencing lower costs of production, lower taxes on interest rates.
What causes the Aggregated Supply Curve to shift to the right?
|
Gross Domestic Product (GDP)
What is the total dollar value of all final goods and services produced in a nation in a single year?
|
John Maynard Keynes
Which Economist wanted to "steer markets" according to last week's the rap-battle video?
|
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Downward
Which direction does the Aggregated Demand Curve slope?
|
Aggregated Supply decreases, taxes are higher, interest rates are higher.
What causes the Aggregated Supply Curve to shift to the left?
|
Purchasing Power
What determines the value of a dollar?
|
Ben Bernanke
Who is currently chairman of the Federal Reserve?
|
|
Aggregated demand increases. Consumers are spending more and saving less, the economy is improving.
What is happening if the aggregated demand curve shifts to the right?
|
Overall profits will rise.
If prices go up and wages and other costs of production do not, what will happen?
|
Net Domestic Product (NDP)
GDP - Depreciation = ?
|
Austria-Hungary
What country was F. A. Hayek from?
|
|
The change in quantity demanded.
What is shown in a movement along the demand curve?
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The amount of real GDP that will be produced at various price levels.
What does the Aggregated Supply Curve show?
|
Base Year
What is the year used as a point of comparison for other years in a series of statistics?
|
District 6: Atlanta, GA
Which Federal Reserve District is Tennessee included in?
|
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