2021-01-10T10:16:15+03:00[Europe/Moscow] en true exports, imports, updated aggregate spending equation, effect of Europe going into a recession (on the U.S.), effect of the U.S. going into a recession, effect of imports increasing, effect of exports increasing, reason to trade, effect of imports, effect of exports, mpi, updated spending multiplier equation, price an item sells for in the U.S., price an item sells for in the rest of the world, imports on a graph, exports on a graph, how U.S. exports work, consumer surplus definition, consumer surplus graph, price that the consumer is willing to pay for an item (consumer surplus graph), the price a consumer paid for an item (consumer surplus graph), producer surplus definition, producer surplus graph, market price for an item (price a firm can sell an item for), quantity the firm is willing to supply, amount of money the firm is willing to produce and sell the item for, aggregate demand definition, graph showing both consumer and producer surpluses with exports, consumer surplus before trade (export consumer and producer surplus graph), consumer surplus after trade (export consumer and producer surplus graph), producer surplus before trade (export consumer and producer surplus graph), producer surplus after trade (export consumer and producer surplus graph), loss (export consumer and producer surplus graph), gain (export consumer and producer surplus graph), net benefit (export consumer and producer surplus graph), U.S. demand (consumer and producer surplus graph), graph showing both consumer and producer surpluses with imports, consumer surplus before trade (import consumer and producer surplus graph), consumer surplus after trade (import consumer and producer surplus graph), producer surplus before trade (import consumer and producer surplus graph), producer surplus after trade (import consumer and producer surplus graph), loss (import consumer and producer surplus graph), gain (import consumer and producer surplus graph), net benefit (import consumer and producer surplus graph), wealth definition, reasons why aggregate spending falls as the price index rises, wealth effect, interest rate effect, international trade effect, wealth effect, interest rate effect, and international trade effect on graph, effect of falling prices on graph, aggregate supply graph, recession on an aggregate supply graph, inflation on an aggregate supply graph, things that affect aggregate supply flashcards

Macroeconomics 142 Test 4 (Currently Incomplete) (from TinyCards)

This deck, custom-made for a class, contains material covered after Test 3. (V.5) (This deck used to be on an amazing spaced-learning service called Tinycards. You can see the original version in all its former glory if you click on it in this archived folder: https://web.archive.org/web/20200829090453mp_/https://tinycards.duolingo.com/collections/2QwH9YRN/macroeconomics-142 ) (I currently have no plans to "complete" this deck and may never be able to do so.)

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  • exports
    X
  • imports
    M
  • updated aggregate spending equation
    C+I+G+X-M C+I+G+NX
  • effect of Europe going into a recession (on the U.S.)
    Europe imports fewer U.S. goods, which could cause a slowdown in the U.S. economy
  • effect of the U.S. going into a recession
    the entire world goes into a recession
  • effect of imports increasing
    aggregate spending decreases
  • effect of exports increasing
    aggregate spending increases
  • reason to trade
    Voluntary exchange is mutually beneficial.
  • effect of imports
    consumers are better off while producers are worse off
  • effect of exports
    producers are better off while consumers are worse off
  • mpi
    marginal propensity to import
  • updated spending multiplier equation
  • price an item sells for in the U.S.
  • price an item sells for in the rest of the world
  • imports on a graph
  • exports on a graph
  • how U.S. exports work
    leftovers from the U.S. surplus are sold to the world market
  • consumer surplus definition
    situation in which the value of something to a consumer is higher than what was paid for it
  • consumer surplus graph
  • price that the consumer is willing to pay for an item (consumer surplus graph)
  • the price a consumer paid for an item (consumer surplus graph)
  • producer surplus definition
    value of the market to producers
  • producer surplus graph
  • market price for an item (price a firm can sell an item for)
  • quantity the firm is willing to supply
  • amount of money the firm is willing to produce and sell the item for
  • aggregate demand definition
    aggregate spending when prices adjust
  • graph showing both consumer and producer surpluses with exports
  • consumer surplus before trade (export consumer and producer surplus graph)
  • consumer surplus after trade (export consumer and producer surplus graph)
  • producer surplus before trade (export consumer and producer surplus graph)
  • producer surplus after trade (export consumer and producer surplus graph)
  • loss (export consumer and producer surplus graph)
  • gain (export consumer and producer surplus graph)
  • net benefit (export consumer and producer surplus graph)
  • U.S. demand (consumer and producer surplus graph)
  • graph showing both consumer and producer surpluses with imports
  • consumer surplus before trade (import consumer and producer surplus graph)
  • consumer surplus after trade (import consumer and producer surplus graph)
  • producer surplus before trade (import consumer and producer surplus graph)
  • producer surplus after trade (import consumer and producer surplus graph)
  • loss (import consumer and producer surplus graph)
  • gain (import consumer and producer surplus graph)
  • net benefit (import consumer and producer surplus graph)
  • wealth definition
    income that people have earned in the past that they now hold in some kind of asset
  • reasons why aggregate spending falls as the price index rises
    because of the wealth effect, the interest rate effect, and the international trade effect
  • wealth effect
    as prices increase, wealth declines, and therefore spending declines
  • interest rate effect
    as interest rates increase, investment falls
  • international trade effect
    imports increase while exports decrease
  • wealth effect, interest rate effect, and international trade effect on graph
  • effect of falling prices on graph
  • aggregate supply graph
  • recession on an aggregate supply graph
  • inflation on an aggregate supply graph
  • things that affect aggregate supply
    energy costs, labor costs, oil, technology, competition, and healthcare