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Q 1/40
Score 0
Part of the reason that aggregate demand is downward sloping is because
30
there is a direct relationship between price level and the real GDP demanded
lower price levels increase the demand for consumer goods
lower price levels cause real interest rates to increase and increase investment
higher price levels decrease the purchasing power of money which decreases the quantity of consumption
Q 2/40
Score 0
An increase in which of the following will decrease aggregate demand?
30
Price level
Real interest rates
Consumer wealth
Net exports
40 questions
Q.
Part of the reason that aggregate demand is downward sloping is because
1
30 sec
Q.
An increase in which of the following will decrease aggregate demand?
2
30 sec
Q.
A change in which of the attached would increase the short-run aggregate supply curve?
3
30 sec
Q.
Assume Canada imports products from the United States. A large decrease in the Canadian incomes will cause the United States price level and real GDP to change in which of the ways.
4
30 sec
Q.
An increase in the wealth of consumers will likely cause price level and unemployment to change in which of the following ways?
5
30 sec
Q.
A decrease in the price of inputs will result in which of the following in the short run?
6
30 sec
Q.
All of the following are true regarding the concept of the long-run except?
7
30 sec
Q.
Refer to the graph above. Assume this economy is currently producing at Q1 with a price level of PL1. Which of the following will most likely occur as the economy adjusts to long-run equilibrium?
8
30 sec
Q.
Assume an economy is at full-employment equilibrium when a negative supply shock occurs. All of the following will occur in the short-run except
9
30 sec
Q.
According to classical economists, which of the following will occur to move this economy to long-run equilibrium
10
30 sec
Q.
All of the following are true regarding the horizongal protion of the short-run aggregate supploy cure except
11
30 sec
Q.
According to the short-run Phillips curve, an increase in inflation will accompany
12
30 sec
Q.
Which of the following is true regarding the Phillips curve?
13
30 sec
Q.
Which of the following is an example of epansionary fiscal policy?
14
30 sec
Q.
Which of the following is the best example of a non-discretionary fiscal policy to combat demand-pull inflation?
15
30 sec
Q.
An increase in the marginal propensity to save clearly causes a decrease in which o the following
16
30 sec
Q.
Assume that current real GDP falls short of full-employment output by $400 billion and the marginal propensity to consume is 0.8. What is the minimum increase in government spending that could bring about full employment?
17
30 sec
Q.
A Decrease in government spending by a given amount accompanied by a decrease in taxes by the same amount will cause which of the following
18
30 sec
Q.
Which of the following is true regarding budget deficits?
19
30 sec
Q.
A decrease in interest rates resulting in the increase in capital stock will likely cause which of the following in the long-run?
20
30 sec
Q.
Whic of the following will most likely result in economic growth?
21
30 sec
Q.
The intersection of the aggregate demand and aggregate supply curve occurs at the economy's equilibrium of
22
30 sec
Q.
An increase in consumer spending will most likely cause the price level and real GDP to change in which of the following ways in the short-run?
23
30 sec
Q.
A decrease in the wages and production cost will most likely cause the price level and real GP to change in which of the following ways in the sort-run?
24
30 sec
Q.
A negative supply shock would most likely result in
25
30 sec
Q.
A positive supply shock, such as a decrease in the price of oil, is most likely to have which of the following short-run effects on the price level and output?
26
30 sec
Q.
If exports from the United States increased, what would most likely happen to real gross domestic product and price level?
27
30 sec
Q.
Stagflation might be caused by
28
30 sec
Q.
Which of the above would cause a leftward shift in aggregate demand?
29
30 sec
Q.
Which of the following would cause a rightward shift of the aggregate supply curve?
30
30 sec
Q.
The formula to calculate the expenditures or simple multiplier is
31
30 sec
Q.
If an increase in government spending of $100 billion increases equilibrium output by a total of $500 billion then the marginal propensity to consume must be at least
32
30 sec
Q.
If Congress wants to close a recessionary gap, whic policy is matched to the change in policy, output and price level? Enter your LETTER choice in the blank
33
30 sec
Q.
If Congress wants to close an inflationary gap, which policy is matched to the change in policy, output and price level? Enter your LETTER choice in the blank
34
30 sec
Q.
How will a decrease in personal income taxes and an increase in government spending affect consumer spending and unemployment in the short-run? Enter your LETTER choice in the blank.
35
30 sec
Q.
the income that households have after taxes is called
36
30 sec
Q.
If the economy is operating in the intermediate range of the aggregate supply curve and if aggregate demand increases due to an increase in net exports, then the price level, output, and the unemployment rate are most likely to change in which of the above ways? Enter your LETTER choice in the blank
37
30 sec
Q.
Velocity of money is best described as:
38
30 sec
Q.
The quantity theory of money suggest that
39
30 sec
Q.
which of the following will occur if the federal government runs a budget deficit?
