SFA and PA stand for —– with consideration to the CFA inflow (proximal).  

In a country called Novara, actual output is 850 billion dollars and potential output is 800 billion dollars. The economy is experiencing a(n) ________ output gap, and the government should ________ in order to close this gap.

Suppose this economy of Country Happyland has a potential output of 800 billion dollars, and it is currently producing at an actual output of 900 billion dollars.This means the economy is experiencing a/an  ____________ output gap, and the government will use ____________ in taxes to close this gap.

The short-run aggregate supply curve shifts to the left for all of the following reasons EXCEPT:

The country of Norland has a potential output of 1,500 billion dollars. Its current actual output is 1,800 billion dollars. The economy is self-adjusting with no government intervention.What type of output gap exists, and what will happen to the SRAS curve over time?

The following table shows the expenditures for the country of Novaria in the year 3027.Use this information to calculate the GDP for this country in 3027.CategoryAmount (Billions of Dollars)Consumption Expenditure$800Investment Spending$450Net Exports-$5Government Purchases of Goods and Services$400Taxes (not included in GDP calculation)$100Transfer Payments (not included in GDP calculation)$40

In the country of Novaria, in the year 3045, the consumer price index changes from 120 to 126 between December 3044 and December 3045. The _____ has increased during this period.

In the fictional country of Eldoria, there are 120,000,000 people. Out of this total population, 30,000,000 residents are below the age of 16, and 12,000,000 have stopped looking for work. The remaining residents are in the labor force, and 3,900,000 of the labor force are unemployed and actively seeking work. Find the unemployment rate.

In the fictional country of Novaria, in the year 2051, the actual unemployment rate was 7.5% and the natural rate of unemployment was 4.2%.

The following table shows the quantities and prices for two goods in the country of Novaria.Use this information to calculate the nominal GDP in 2030 (base year: 2029).YearWheat ProductionCars ProductionPrice of Wheat Price of Cars2028500 units300 units$300 per unit$200 per unit2029550 units350 units$320 per unit$220 per unit2030600 units400 units$340 per unit$240 per unit