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According to public choice economists, the federal government has expanded because:

A change in _____ will cause a change in the quantity demanded of real GDP.

The phenomenon that interest rates may be so low that increases in the money supply will have no impact on aggregate demand is called:

Interest paid on externally held debt does not pose a burden on our economy.

Jill has an escalator clause in her labor contract that gives her a raise equal to the change in the consumer price index (CPI). Last year she earned $40,000 and the CPI was 100. If the CPI this year is 110, her new salary is $:

The GDP deflator index contains average prices for exports.

Cost-push inflation is a result of too much spending on goods and services.

Economic analysis cannot be applied to concepts outside economics.

The short-run aggregate supply curve is vertical.

(Figure: Determining Aggregate Equilibrium Levels) Equilibrium output is _____ units, and the equilibrium price level is _____.