Insert the missing word or phrase: 1. There are _______ _____ _____ _____: holding human capital per worker and technology fixed, each successive addition to physical capital per worker yields a smaller increase in productivity than the one before.
Insert the missing word or phrase:
1. There are _______ _____ _____ _____: holding human capital per worker and
technology fixed, each successive addition to physical capital per worker yields a smaller increase in productivity than the one before.
2. If the aggregate consumption function shifts up, the level of income-expenditure equilibrium GDP will increase by an amount___________ than the increase of the consumption function.
3. _____ _________ _________ - the increased costs associated with making transactions that arise from the public’s efforts to avoid the inflation tax.
4. Persistent budget deficits have long-run consequences because they lead to an increase in ______________ ___________.
5. The MPC = 0.8, t= 0,1 then the tax multiplier is _____________
6. Countries can fix exchange rates using ________ ________ ____________, which requires them to hold foreign exchange reserves that they use to buy any surplus of their currency.
7. When planned aggregate spending does NOT equal current GDP, there is a selfadjustment process that operates through __________ _________________.
8. The money supply expands when banks _______ _________ from the
reserves
9. The
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