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ECN 211_QUIZ 31

ECN 211_QUIZ 31 - ECN 211 SLN 45992 Macroeconomic...

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ECN 211 SLN 45992 Quiz #3 Professor Happel Macroeconomic Principles Fall 2006 8:40-9:55 MW 1. In terms of the aggregate demand-aggregate supply (AD/AS) graph, which of the following is false ? a. AD and AS are flow variables and show what households and firms desire to do at different levels of the price index. b. AD is downward sloping because of the real balance effect. c. The AD curve holds expectations constant. d. The AD curves holds taxes and the money supply constant e. The AS curves hold taxes constant, but it does not hold expectations constant. 2. Price Index For the AS graph above, which of the following statements is false ? 3. According to class discussions of money which of the following is false ?
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