ECN 211_QUIZ 31

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

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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 ? a. AS 2 is Marshall’s AS curve. b. AS 1 is a Keynesian AS curve. c. AS 1 is Friedman’s long run supply curve, and AS 2 is his short run AS curve. d. AS 1 means that people can be tricked into working beyond the natural rate of unemployment. e. The supply siders want to shift out the AS curve to get more output at lower prices. 3. According to class discussions of money which of the following is false ? a. A primary function of money is to serve as a medium of exchange. b. An effective medium exchange has properties that include being divisible, durable, and hard to counterfeit. c.
Background image of page 1

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

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

This note was uploaded on 03/24/2009 for the course ECN ecn 211 taught by Professor Stevehappel during the Fall '06 term at ASU.

Page1 / 3

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

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online