Question

The ______________ is an economic mechanisms that amplify the initial impact of a shock. A ______________ is a situation in which the expectations of an event induce actions that lead to that event. ______________ economic growth depends on rising productivity. ______________ is used to refer to output per worker or to output per hour. ______________ economic growth occurs only when the amount of output produced by the average workers increases steadily. In the long-run, the rate of employment _____________ is never very different from the rate of ______________ growth. There are three factors used to explain why the average U.S. worker today produces far more than his or her counterpart a century ago: ______________, ______________, ______________. Fiscal policy is the result of deliberate actions by the______________. Expansionary actions include: increases in the government purchases of goods and services, deceases in taxes, and/or increases in government transfers. Contractionary actions include: decreases in the government purchases of goods and services, increases in taxes, and/or decreases in government transfers. Monetary policy is the result of deliberate actions by the ______________. Expansionary actions include: increasing bank reserves and/or decreasing interest rates. Contractionary actions include: decreasing bank reserves and/or increasing interest rates

Answer 1

The MULTIPLIER is an economic mechanisms that amplify the initial impact of a shock. A Self Fulfilling Prophecy is a situation in which the expectations of an event induce actions that lead to that event. LONG RUN economic growth depends on rising productivity. LABOUR PRODUCTIVITY is used to refer to output per worker or to output per hour. LONG RUN economic growth occurs only when the amount of output produced by the average workers increases steadily. In the long-run, the rate of employment GROWTH is never very different from the rate of POPULATION growth. There are three factors used to explain why the average U.S. worker today produces far more than his or her counterpart a century ago: MORE PHYSICAL CAPITAL,BETTER EDUCATED, BETTER TECHNOLOGY. Fiscal policy is the result of deliberate actions by the POLICY MAKERS. Expansionary actions include: increases in the government purchases of goods and services, deceases in taxes, and/or increases in government transfers. Contractionary actions include: decreases in the government purchases of goods and services, increases in taxes, and/or decreases in government transfers. Monetary policy is the result of deliberate actions by the FEDERAL RESERVE BANK. Expansionary actions include: increasing bank reserves and/or decreasing interest rates. Contractionary actions include: decreasing bank reserves and/or increasing interest rates

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