In the long term, the most important factor shifting the AS curve is ___________.

As a country trades more with other nations, jobs in that country move away from sectors where that economy does not have a _________ advantage and toward sectors where it has a __________ advantage.

When the general level of prices goes down, we call that:

What is meant by opportunity cost?

In 2000, Sokovia’s nominal GDP was $240 billion, and its GDP deflator was 80. In 2010, its GDP was $350 billion, and its GDP deflator was 130. Calculate Sokovia’s 2000 GDP in 2010 dollars. 

What term is used to describe when economies with low per capita incomes are growing faster than economies with high per capita incomes?

What term describes the process of an economy as a whole turning economic inputs such as labor, machinery, and raw materials into outputs such as goods and services?

The maximum quantity that an economy can produce, given its existing levels of labor, physical capital, technology, and institutions is called

What is physical capital?

A study examined sleeping habits of adults. Adults in the study reported how many hours they typically sleep each night and how many ounces of caffeine they typically consume each day. The researchers will use this data to determine if there is an association between sleep amount and caffeine consumption. This is an example of what?