The productivity growth rates of richer countries tend to be ____ than those of poorer countries
a. higher
b. lower
c. increasing faster
d. decreasing faster
b
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Suppose a country's net exports equal 0. If the volume of imports increases without any change in the volume of exports, the country will experience a ________
A) trade deficit B) budget deficit C) trade surplus D) budget surplus
An increase in the rate of depreciation is associated with ________
A) a decrease in the rate of productivity B) a decrease in gross investment C) a decrease in net investment D) an increase in net investment
We can say that the potential level of real GDP is fixed because the long-run aggregate supply curve is a vertical line
a. True b. False Indicate whether the statement is true or false
If the aggregate demand curve shifts in the short run moving the economy out of long-run equilibrium:
A. the short-run aggregate supply curve will shift to bring it back into long-run equilibrium. B. inflation will always occur. C. the aggregate demand curve will eventually shift back once expectations are taken into account. D. we will move along the short-run aggregate supply curve back to equilibrium.