Using the IS Curve

question 31

Multiple Choice

Using the IS curve Using the IS curve ,in the long run, __________ and __________,so that __________. A) equals one; ;the economy is in recession B) is greater than one; ;the economy is at its long-run equilibrium C) equals zero; ;the economy is at its long-run equilibrium D) equals one; ;the economy is expanding E) equals one; ;the economy is in recession
,in the long run, Using the IS curve ,in the long run, __________ and __________,so that __________. A) equals one; ;the economy is in recession B) is greater than one; ;the economy is at its long-run equilibrium C) equals zero; ;the economy is at its long-run equilibrium D) equals one; ;the economy is expanding E) equals one; ;the economy is in recession
__________ and __________,so that __________.

Definitions:

Bowed Out

A description usually of production possibilities frontier that shows increasing opportunity costs.

Command Economy

An economic system in which the government or central authority makes all decisions about the production and distribution of goods and services.

Centralized

A system or organization where decision-making and administrative processes are concentrated at a single point or center.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as the percentage increase in real GDP.