Economics 12E - Arnold - TB_356 - e rises falls rises fall fall more ANSWER c POINTS 1 DIFFICULTY Challenging NATIONAL STANDARDS United States BUSPROG

Economics 12E - Arnold - TB_356 - e rises falls rises fall...

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e. rises; falls; rises; fall; fall; more ANSWER: c POINTS: 1 DIFFICULTY: Challenging 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 Exhibit 16-4 89. Refer to Exhibit 16-4. The economy is initially at point A, in long run equilibrium. A real business cycle would be represented by the following sequence of curve shifts: a. SRAS1to SRAS2, then LRAS1to LRAS2.b. AD1to AD2, then LRAS1to LRAS2.c. LRAS1to LRAS2, then AD1to AD2.d. LRAS1to LRAS2, then SRAS1to SRAS2.e. none of the aboveANSWER: c POINTS: 1 DIFFICULTY: Challenging
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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 90. Refer to Exhibit 16-4. If LRAS1shifts to LRAS2, and this causes AD1to shift to AD2, economists would call this a a. rational expectations cycle.b. policy ineffectiveness proposition.c. short run Phillips curve.d. real business cycle.ANSWER: d 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:
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  • Spring '11
  • Lee
  • Economics, Keynesian economics

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