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fired because skills no longer in demand
percentage of the labor force unemployed at any time
gov't deficit spending is financed by
issuing new bonds
Fed buys securities on open market; what decreases?
interest rates (in the short-run)
factors for economic growth
quantity/quality of resources
amt. of capital goods available
favorable supply shock effects on price level/output
- price: decrease
- output: increase
high inflation + high unemployment + stagnant demand
effect of central bank selling securities on open market
decrease money supply
increase interest rates
decrease aggregate demand
federal funds rate
interest rate that banks charge one another for short-term loans
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