Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Macroeconomics Ch.10

Defenitions for Priniciples of Macroeconomics 3rd Canadian Edition

QuestionAnswer
- AGGREGATE DEMAND-AGGREGATE SUPPLY MODEL A MODEL OF REAL OUTPUT AND OVERALL PRICE DETERMINATION
- long-run aggregate supply (LRAS) curve a relationship between potential output and price level. Vertical curve indicates independence between the two
- short-run aggregate supply (SRAS) curve a relationship between real output and the overall price level in the short run; the horizontal SRAS curve indicates that firms meet demand in short run
- AGGREGATE DEMAND CURVE: A RELATIONSHIP BETWEEN OVERALL SPENDING IN THE ECONOMY AND THE AGGREGATE PRICE LEVEL (DOWNWARD SLOPING)
- real-balances effect the hypothesis that overall wealth in the economy will be inversely related to the overall price level causing AD curve and price level to be inversely related
- foreign trade effect the hypothesis that net exports will be inversely related to the overall price level and therefore that aggregate demand and the price level will be inversely related
- STAGFLATION THE COMBINATION OF A RECESSIONARY GAP AND A RISING PRICE LEVEL
- Phillips curve a term that typically refers to a statistical relationship between the inflation rate and the unemployment rate
- Expectations-augmented Phillips curve model : distinguishes between a short-run and long-run phillips curve and argues that short-run curves shift when expectations about the inflation rate change
- LONG-RUN PHILLIPS CURVE A RELATIONSHIP BETWEEN THE INFLATION RATE AND THE UNEMPLOYMENT RATE IN THE LONG-RUN: VERTICAL CURVE THAT IS DRAWN AT THE NATURAL RATE OF UNEMPLOYMENT
- Short-run Phillips curve (SRPC ): a relationship between actual unemployment and the inflation rate for the given inflationary expectations
Created by: aliciab
Popular Business sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards