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[DOCX File]AP Macroeconomics
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A)increase real output by more than the price level. B)increase the price level by more than real output. C)reduce real output by more than the price level. D)reduce the price level by more than real output. 51. Graphically, the full-employment, low-inflation, rapid-growth …
how to find price level

[DOC File]Macro 3 - U.S. History
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In Macroeconomics a change in a variable that causes AS to shift can sometimes cause a shift in AD. Ex. If wages increase it becomes more costly for companies to produce so AS shifts. Yet employees now have more money so AD increases. Long Run Aggregate Supply: (overhead 3.8) Wages are responsive to changes in the price level.
price level equation

[DOC File]AP Macroeconomics Formulas and Definitions:
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Moneterism: the macroeconomic view that the main cause of changes in aggregate output and the price level are fluctuations in the money supply; advocates a monetary rule. Monetary policy: changing the money supply to assist the economy to achieve a full employment, noninflationary level of total output.
price level economics

[DOC File]All the graphs you need to know for Macro
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3. Price is identified as PL at each equilibrium level. On the X axis, use the letter Y to indicate the quantity amount. 4. Aggregate Demand Shifters (changes in CIGXn): Changes in Consumer spending caused by wealth, expectations, indebtedness, or personal taxes
how to calculate gdp price index

[DOC File]Possible Free Response Questions 2007-07 Final Exam
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Price level (price index) Amount of. real domestic. output supplied, billions $100. 200 300 400 500 300. 250 200 150 100 $450. 400 300 200 100 a. Use these sets of data to graph the aggregate demand and aggregate supply curves. What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy?
nominal gross domestic product

[DOC File]Lesson Plans
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Inflation – a general & sustained increase in the average price level of ALL products in the economy, causes money to hold less value & decreases the purchasing power of the dollar. Inflation rate is the % change in the price level from the previous period or base year. Normal, “healthy” inflation rate is 1-3%. Degrees of Inflation
gdp adjusted to base year prices

[DOC File]Lecture 1: Introduction to Macroeconomics
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We know from the previous lecture that changes in the money supply will lead to changes in the price level, after adjusting for economic growth. In the POW experience, when a new package of cigarettes arrived, the money supply increased and inflation soon followed.
changes in real gdp reflect quizlet

[DOC File]1 - Whitman College
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Real GDP is nominal GDP adjusted for changes in the price level. Since real GDP rose we can be confident that production rose as well. Since nominal GDP grew faster than real GDP we can also assume that the price level rose. That is there must have been some inflation. The residual, or 5% amount, gives us the approximate inflation rate.
how to calculate price level

[DOC File]Econ 1102: Principles of Macroeconomics
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Suppose that this year’s money supply is $500 billion, nominal GDP is $18 trillion, and price level is 3. (Total . 4. pts.) What is the real GDP? What is the velocity of money? (1 pt.) Suppose that velocity is constant and the economy’s output of goods and services rises by 5% each year.
how to find price level

[DOC File]Economics 101 - SSCC
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Solution: If the wage increased at the same rate as the increase in the price level from 2006 to 2009, the nominal price of the average salary in 2009 should be = III. According to the data from the U.S. Department of Labor, the nominal price of the minimum wage was $2 per hour in …
price level equation

Price level formula macroeconomics