{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

test 4 - Name Date 1 Which of the following represent the...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Name: __________________________ Date: _____________ 1. Which of the following represent the three consequences of the decline in demand during the Great Depression? A) fall in prices, decline in output, and a surge in unemployment B) rise in prices, decline in output, and a surge in unemployment C) rise in prices, increase in output, and a surge in unemployment D) fall in prices, increase in output, and a surge in unemployment 2. The short-run aggregate supply curve is positively sloped because: 3. Which of the following is NOT one of the reasons that the aggregate demand curve slopes downward? 4. Which of the following will cause short-run aggregate supply to increase? 5. If there is an inflationary gap, which of the following accurately describes the adjustment to long-run equilibrium? A) Nominal wages decrease, and the aggregate demand curve shifts left until the economy reaches long-run equilibrium. B) Nominal wages increase, and the aggregate demand curve shifts right until the economy reaches long-run equilibrium. C) Nominal wages decrease, and the short-run aggregate supply curve shifts right until the economy reaches long-run equilibrium. D) Nominal wages increase, and the short-run aggregate supply curve shifts left until the economy reaches long-run equilibrium. Page 1
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern