Examlex
Pessimism
Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of confidence in policymakers, people become pessimistic regarding the future and retain that level of pessimism for some time.
-Refer to Optimism.In the short run what happens to the price level and real GDP?
Q39: Suppose the government raises taxes. Which curves
Q75: The theory of liquidity preference illustrates the
Q306: Which of the following is not included
Q363: Other things the same, which of the
Q435: At a given price level, an increase
Q458: Classical economist David Hume observed that as
Q466: Explain how a change in the expected
Q470: Technological progress shifts the long-run aggregate supply
Q475: When the interest rate is above the
Q513: Most macroeconomic variables that measure some type