11
YF
Full potential real GDP
AS stands for...
Short-run aggregate supply
Riddle me this: what year will it be next year?
2026
The Fed is short for...
Federal Reserve Bank
AS
Short run aggregate supply
Y
real GDP
M
Imports
Who is the governor of New York?
Kathy Hochul
If there is inflation, what do I want to do to interest rates?
Raise them up!
G-T
Government Budget Position
GDP
What micro economic condition are we at in the long run?
GCE
Which fast food burger place was founded in Ohio?
Famous for square beef patties
Wendy's
What shifts demand in the long term capital market?
Structural + frictional unemployment =
the Natural Rate of Unemployment
There is slack in the economy means I have what kinds of unemployment?
Frictional, Structural, and Demand Deficient OH NO
What will shift the AS?
Change in factor prices
Rock, Paper, Scissors.
In the opening round of play, which one do males play more than 50% of the time?
Rock
Capital flight from a country into the United States would cause the supply of our Long Term Capital Market to shift...
Right
Fourth planet from the sun
Mars
What line on our Macroeconomic graph is inelastic?
LAS
What 3 things will shift the LAS?
Change in population, natural resources, production capital
This state was founded in 1820, however, it had always been a state b/c it was originally part of Massachusetts
Maine
There are 2 premiums that separate the short term rate and the long term rate, they are...
Waiting premium and risk of inflation premium
What is the consumption function?
C = A + b(PY)