Econ Ch.10 Quiz - EEEEEEEEED I D I. TextF‘roblem‘lD—E...

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Unformatted text preview: EEEEEEEEED I D I. TextF‘roblem‘lD—E @Quamhn Snore: o of 1 pt TeatSmm: 57.5% (535 of 1:: pts} El Suppose that the long—run aggregate supplg.r curve is positioned at a real GDP level of' $12 trillion in base year dollars, and the long—run equflibrium price levelfin index number form) is 115. The corresponding fitllemphyrmnt levelof'nonn'nnl GDP must be $ 13.1?l trfllion dollars (enter your response rounded to one deoinmlpface). Roll your mouse over the red indicators to see incorrect answers. 6') q@@@§@@€9b @Quoeflon 5mm: 1 of 1 pt 10.1 Exercise‘i Tea-15mm: 515% (5.?5 of 10 pts} El The long—run aggregate supply curve is determined by: the real value ofeash balances. the relationship between price and Iquantitz,r supplied. the amount ofinflation inthe economy. 5" the fiill—emphyment levelof'real output. Question is complete. ® I. Text Problem 1|}? Eta-Question 500m: [3.5 of 1 pt Test 5mm: 615% [6.795 of 10 pts) FE Suppose that there is a sudden rise in the price level As a consequence, economywide planned spending on purchases ofgoods and senrices will decrease Which of the following is NOT a reason for this change in economywide planned spending? open economy effect. 3‘ interest rate effect. 1" substitution effect. real—balance effect. Question is complete. (3 <JG§JG§G§G§PG§P |> '| TextProbIemw-w Egg-Question 5mm: 0.25 of 1 pt TestScore: 515% (6.?5 of 10 pts} Elf From the list below, match the letter ofthe outcome each ofthe following events produces upon the IRAS curve. A Shiflstoright B memes C Mmrement up along D Movement down along (Enter a Letter A, B, C, or D.) Last year, businesses invested in new capital equipment, so this year the nation‘s A‘I capital stock is higher than it was last year. There has been an 8 percent increase in the quantity ofmoney in circulation that has Cs shifled the AD curve. A hurricane ofunprecedented strength has damaged oil rigs, factories, and ports all along the nation‘s coast. B Inflation has occurred during the past year as a result of rightward shifls ofthe AB C“ curve. Roll your mouse over the red indicators to see incorrect answers. ® 10.2Exercise1 7:33-ouamon 5mm: 1 of 1 pt Tea-15mm: 515% (5.?5 of 10 pts) El Total expenditures for domestically produced goods and senriees consist of: consumer spending only. V consumer spending, business spending, government spending, and net foreign spending. government spending only. consumer spending, business spending, and net foreign spending. Question is complete. I <l l> I. 10.2ExtraExeroise2 @ouemhn 5mm: 1 of 1 pt ToatScom: 515% (5.?5 of 10 pts} El The primary difference between the aggregate demand curve and an individual demand curve is that the aggregate demand curve is vertical in the long run, while an individual demand curve is downward sloping. a change in the price level wfll shifl the aggregate demand curve but not an individual demand curve. a change in real balances will shifl an individual demand curve but not the aggregate demand curve. the aggregate demand curve represents total planned expenditures on all goods and services while an individual demand curve represents a single good or senriee. Question is complete. 10.2Exercise? r. _ {VS-Qunstlon 5mm: 1 of 1 pt Test Score: 515% (5.?5 of 10 pts) El According to the real—balance effect, an increase in the price level: does not affect the real value ofcash balances in the short—run. V' reduces an individuals expenditures due to a decrease in the real value ofcash balances. does not affect the real value ofcash balances in the long—mu. increases an individual's expenditures due to an increase in the real value ofcash balances. In Question is complete. (E) Q D 10.1ExtraExercise-2 1:):C:IQueatlon5mm: 0 of 1 pt Teotficom: 515% [ms of 10 pts) El Which of the folhwing would cause a decrease in long—mu aggregate supply”? A decrease in the price leveL A decrease in the labor force. A decrease in the number of consumers in the market. A decrease in wealth. All of the above would cause a decrease in long—run aggregate supply. Question is complete. D I. 10.3Exercise2 @Quaamn 5mm: 1 of 1 pt ToatSnura: 515% (5.?5 of 10 pts} El The U.S. aggregate demand curve would shift to the let] V the Federal Reserve Board caused the real interest rate to increase. the economic conditions in Europe improved. there was a tax decrease. the foreign exchange rate of the dollar decreased Question is complete. {3 I. <] I. 10.1Exercise2 @Question 5mm: 1 of 1 pt fasteners: 515% [535 of 10 pts) |:_,C| The long—run aggregate supply curve shifts outward when: the real—balance effect takes hold. there is increased demand of'realgoods and services. 9 there is economic growth. there are changes in the power ofgovernment. Question is complete. ® ...
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This note was uploaded on 02/09/2011 for the course ECON 201 taught by Professor Coomber during the Fall '08 term at Community College of Baltimore County.

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Econ Ch.10 Quiz - EEEEEEEEED I D I. TextF‘roblem‘lD—E...

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