Examlex
Which of the following reaction(s) at equilibrium would shift to the right upon subjecting it to the conditions stated?
I. Increasing the total pressure of the following reaction mixture by introducing an inert gas such as helium:
2 SO₂ (g) + O₂(g) 2 SO3 .
II. Increasing the pressure of the following reaction mixture through a reduction in volume of the reaction vessel:
H₂ (g) + I2 (g) 2 HI (g) .
III. Decreasing the pressure of the following reaction mixture through an expansion in volume of the reaction vessel:
Co(H₂ O) 6 2+ (aq) + 4 Cl - (aq) CoCl42 - (aq) + 6 H₂ O (
)
Inflationary Gap
Occurs when equilibrium GDP is greater than full-employment GDP.
Equilibrium GDP
The level of Gross Domestic Product where aggregate supply equals aggregate demand, indicating a stable economy with no tendency for change in the price level or output.
Multiplier
Any change in spending (C, I, or G) will set off a chain reaction leading to a multiplied change in GDP. Equation is 1/(1 - MPC).
Federal Budget Deficit
A situation where the government's expenditures exceed its revenues over a specific fiscal period.
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