macro sheflin quiz 2

macro sheflin quiz 2 - Review Assessment: Quiz 2 Name:...

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Review Assessment: Quiz 2 Name: Quiz 2 Status: Completed Score: 9 out of 10 point(s) Time Elapsed: 11 minutes and 36 seconds out of 20 minutes allowed. Instructions: Question 1 Multiple Choice 0.5 of 0.5 point(s) The President has decided to increase federal government expenditures on roads this year. How will this affect the overall economy? Your Answer: It will INCREASE Aggregate Demand and thus INCREASE prices and output in the economy Correct Answer: It will INCREASE Aggregate Demand and thus INCREASE prices and output in the economy Question 2 Multiple Choice 0.5 of 0.5 point(s) In the first few years of the Great Depression, unemployment rose to about Your Answer: 25 percent, and prices fell about 22 percent. Correct Answer: 25 percent, and prices fell about 22 percent. Question 3 Multiple Choice 0.5 of 0.5 point(s) In the short-run an increase in the costs of production makes Your Answer: output fall and prices rise. Correct Answer: output fall and prices rise. Question 4 Multiple Choice 0.5 of 0.5 point(s) Which is true of John Maynard Keynes? Your Answer: He argued that increased government demand should offset reduced private sector demand to prevent depression. Correct Answer: He argued that increased government demand should offset reduced private sector demand to prevent depression. Question 5 Multiple Choice
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macro sheflin quiz 2 - Review Assessment: Quiz 2 Name:...

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