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Macroeconomic Modeling
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In the long run, the level of output is determined by the:
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If the long-run aggregate supply curve is vertical, then changes in aggregate demand affect:
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If an aggregate demand curve is drawn with real GDP (Y) along the horizontal axis and the price level (P) along the vertical axis, using the quantity theory of money as a theory of aggregate demand, this curve slopes ______ to the right and gets ______ as it moves farther to the right.
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For a fixed money supply, the aggregate demand curve slopes downward because at a lower price level real money balances are ______, generating a ______ quantity of output demanded.
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Along an aggregate demand curve, which of the following are held constant?
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Aggregate supply is the relationship between the quantity of goods and services supplied and the:
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According to the quantity theory of money, if output is higher, ______ real balances are required, and for fixed M this means ______ P.
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According to the quantity equation, if the velocity of money and the supply of money are fixed, and the price level increases, then the quantity of goods and services purchased:
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A short-run aggregate supply curve shows fixed ______, and a long-run aggregate supply curve shows fixed ______.
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Інструментами монетарної політики є:
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