Terms
37 new/unreviewed 37 total
Term
Q: Why is economic growth not smooth?
Definition
A: Because U.S. GDP fluctuates widely, causing business cycles and recessions.
New/Unreviewed
Term
Q: Why do recessions matter?
Definition
A: Unemployment rises during recessions.
New/Unreviewed
Term
Q: What are the three curves in the AD–AS model?
Definition
A: Aggregate Demand (AD), Long-Run Aggregate Supply (LRAS), Short-Run Aggregate Supply (SRAS).
New/Unreviewed
Practice Tests
0 total
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