AS Macro - Test | Answer Key - Edubirdie

University:
London School of Economics and Political Science
Course:
L400 | International Social and Public Policy
Academic year:

2022
Views:

446

Pages:

1
Author:

Prerna T

What are the short and long run effects of a fall in investment expenditure? Short run: AD Long run: AS What are two determinants of government spending G? amount of economic activity taking place employment please the electorate if close to election inflation etc... What are two determinants of imports M? exchange rate income at home & abroad What are two determinants of exports X? exchange rate income at home & abroad What is the difference between automatic and discretionary government spending? automatic - changes by itself to offset fluctuations in economic activity discretionary - deliberate changes in G to influence AD What is a positive output gap? where the difference between actual GDP and potential GDP is positive. As the AD is above trend rate What effect would a recession in the USA have on the f: $ exchange rate? Explain your answer. exchange rate to fall take a lower demand for US currency What exactly is a supply side policy? policy measures designed to increase AS by improving the efficiency of product and labor markets

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