Economics 12E - Arnold - TB_354

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: b POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Understanding and applying - DISC: Understanding and applying economic models KEYWORDS: Bloom's: Comprehension 64. 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 decrease b. no change; an increase c. no change; no change d. an increase; an increase e. an increase; no change ANSWER: a POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Understanding and applying - DISC: Understanding and applying economic models KEYWORDS: Bloom's: Application 65. Which theory of the business cycle emphasizes initiating changes in aggregate supply? POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL 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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