MA Chapter 11.rtf - CHAPTER 11\u2014THE SHORT-RUN MACRO MODEL MULTIPLE CHOICE 1 In the short run a spending determines income but not the other way around


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CHAPTER 11—THE SHORT-RUN MACRO MODELMULTIPLE CHOICE1.In the short run,a.spending determines income, but not the other way aroundb.income determines spending, but not the other way aroundc.spending determines the interest rate, but not the other way aroundd.spending determines income, and income determines spendinge.spending determines the productivity, and productivity determines spending.ANS: DPTS:1DIF:2NAT:Financial theories, analysis, reporting, and marketsLOC:Aggregate demand and aggregate supplyTOP:Thinking About Spending2.In the short run,3.The short-run macro model4.The short-run macro model is used most often to determine changes in5.The focus of the short-run macro model is on the role ofa.spending in explaining economic fluctuationsb.labor in explaining economic markets in explaining economic fluctuationsd.output in explaining economic fluctuationse.resources in explaining economic fluctuations.
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ANS: APTS:1DIF:1NAT:Financial theories, analysis, reporting, and marketsLOC:Aggregate demand and aggregate supplyTOP:Consumption Spending6.The largest component of aggregate expenditure is
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