Econ 2030 Exam 2 LSU Charles Roussel Exam
STUD GUIDE | Latest Already Graded A+ |2026
latest update!!
Save
Aggregate To add up
Aggregate demand/supply denoting the total supply or demand for goods or
services in an economy at a particular time
Intuitive Level Numerous
Economic Growth the ability of the economy to increase the
production of goods and services; greater than it
was in the past
What percent for annual economic 2.5%
growth rate is ideal?
Recession a period of temporary economic decline during
which trade and industrial activity are reduced,
generally identified by a fall in GDP in two
successive quarters.
Expansion (Inflation) increase in the level of economic activity and of the
amount of goods and services available
3 Pillars of Macroeconomics Economic Growth, Unemployment, and Inflation
, What does it mean if the It indicates that the unemployment rate has a limit
unemployment rate stays of how low it can be
consistently low? (if it doesn't get
much lower than it has been)
Procyclical moving in the same direction as real GDP;
moving together
STUD GUIDE | Latest Already Graded A+ |2026
latest update!!
Save
Aggregate To add up
Aggregate demand/supply denoting the total supply or demand for goods or
services in an economy at a particular time
Intuitive Level Numerous
Economic Growth the ability of the economy to increase the
production of goods and services; greater than it
was in the past
What percent for annual economic 2.5%
growth rate is ideal?
Recession a period of temporary economic decline during
which trade and industrial activity are reduced,
generally identified by a fall in GDP in two
successive quarters.
Expansion (Inflation) increase in the level of economic activity and of the
amount of goods and services available
3 Pillars of Macroeconomics Economic Growth, Unemployment, and Inflation
, What does it mean if the It indicates that the unemployment rate has a limit
unemployment rate stays of how low it can be
consistently low? (if it doesn't get
much lower than it has been)
Procyclical moving in the same direction as real GDP;
moving together
