1.Describe three types of short-run macroeconomic equilibrium.

2.Does economic growth result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?

3.What are the defining features of Keynesian macroeconomics and what policies do Keynesian macroeconomists recommend?

4.What is the distinction between automatic and discretionary fiscal policy?

5.How do taxes and transfer payment programs work as automatic fiscal policy to dampen the business cycle?