Economics 12E - Arnold - TB_354 - a how expectations are formed b how flexible wages and prices are c the slope of the SRAS curve d the slope of the AD

Economics 12E - Arnold - TB_354 - a how expectations are...

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a. how expectations are formed.b. how flexible wages and prices are.c. the slope of the SRAS curve.d. the slope of the AD curve.ANSWER: bPOINTS: 1DIFFICULTY: ModerateNATIONAL STANDARDS: United States - BUSPROG: AnalyticLOCAL STANDARDS: United States - OH - Default City - DISC: Understanding and applying - DISC: Understanding and applying economic modelsKEYWORDS: Bloom's: Comprehension64. Under new Keynesian theory, a correctly anticipated decrease in aggregate demand will lead to __________ in Real GDP and __________ in the price level.a. a decrease; a decreaseb. no change; an increasec. no change; no changed. an increase; an increasee. an increase; no changeANSWER: aPOINTS: 1DIFFICULTY: ModerateNATIONAL STANDARDS: United States - BUSPROG: AnalyticLOCAL STANDARDS: United States - OH - Default City - DISC: Understanding and applying - DISC: Understanding and applying economic modelsKEYWORDS: Bloom's: Application65. Which theory of the business cycle emphasizes initiating changes in aggregate supply?POINTS: 1DIFFICULTY: ModerateNATIONAL STANDARDS: United States - BUSPROG: AnalyticLOCAL STANDARDS: United States - OH - Default City - DISC: Understanding and applying - DISC: Understanding and applying economic models
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KEYWORDS: Bloom's: Comprehension
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