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Werner Fall 2018 3 with answers.pdf - Exam Name_ MULTIPLE...

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ExamName___________________________________MULTIPLECHOICE.Choosetheonealternativethatbestcompletesthestatementoranswersthequestion.1) OnagraphwithrealGDPgrowthonthex-axisandtheunemploymentrateonthey-axis,youploteachyear'svaluesfortheUnitedStatesasaseparatepoint.Whatdoestheoveralltrendinthisgraphlooklike?A) AhorizontallineB) Anupward-slopinglineC) Adownward-slopinglineD) Averticalline1)
2) Iftheeconomyisinanexpansionthisquarter,itwillprobably________.2)
3) WhichfeatureofeconomicfluctuationswasNOTpresentduringtheGreatDepression?3)
4) Acountry'smarginalproductoflaborfallsduringwinterduetoexcessivecold.Whichofthefollowingislikelytohappeninthiscase,assumingallelseequal?4)
5) Assumingallelseequal,whenthelabordemandcurveshiftstotheleft,________.A) inflationrisesB) outputfallsC) equilibriumwagerisesD) unemploymentfalls5)
1
Thefigurebelowshowsthelabordemandandlaborsupplycurvesforaneconomy.6) Refertothefigureabove.ThelabormarketiscurrentlyatpointE.Whichofthefollowingislikelytohappenifarecessionhitstheeconomy,assumingthatwagesareflexible?6)
7) Refertothefigureabove.TheeconomyiscurrentlyatE.Whichofthefollowingislikelytohappenifarecessionhitstheeconomy,assumingthatthereisdownwardrigidityofwages?

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Term
Winter
Professor
N/A
Tags
Inflation, Monetary Policy, Foreign exchange market, United States dollar

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