QUESTION 1 FromBoilercastlecture 2-1:Back in 1974 real GDP decreased by 0.5% and the inflation rate increased to 11%.Which aggregate demand orOctober 9, 2020
Answer each question with 150 words. Use References and in text citation. You will be pointed if you do not complete this task. 1. List and explain the three reasons the aggregate-demand curve slopes downward 2. Name two macroeconomic variables tOctober 9, 2020
- with these principles, explain what they mean; follow up with an example for each principle. Feel free to use real world events as an example but be sure to cite your source.
explain, provide an example, use an in-text citation, and provide the reference to receive an ‘S’ for your work.
Principle 4: People Respond to Incentives
Principle 2: The Cost of Something Is What You Give Up to Get It
- Consider how the rate of population growth influences the level of GDP per person.
- explain the differences between absolute advantage and comparative advantage.
- why do economists oppose policies that restrict trade among nations.
- what determines how the burden of a tax is divided between buyers and sellers.
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