Quiz - Chapter 21

Quiz - Chapter 21 - Maximum number of choices allowed is...

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Maximum number of choices allowed is {0}. Points Awarded 118.00 Points Missed 2.00 Percentage 98.3% 1. In The General Theory of Employment, Interest, and Money, John Maynard Keynes argued for government policies that would eliminate A) the Great Depression and Keynes focused primarily on the economy's long-term problems. B) the Great Depression and Keynes focused primarily on the economy's short-term problems. C) inflation and Keynes focused primarily on the economy's long-term problems. D) inflation and Keynes focused primarily on the economy's short-term problems. Points Earned: 1.0/1.0 Correct Answer(s): B 2. In the figure above, long-term economic growth can be seen as A) the growth in actual GDP from 1998 to 2002. B) the growth in potential GDP from 1998 to 2006. C) the fluctuations of real GDP around potential GDP. D) the maximum point of real GDP as the economy moves through the business cycles.
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Points Earned: 0.0/1.0 Correct Answer(s): B 3. Since 1990, the range of the unemployment rate in the United States has been approximately between ________ percent. A) 4.0 to 8.0 B) 9.0 to 12.5 C) 2.5 to 4.5 D) 11.0 to 25.0 Points Earned: 1.0/1.0 Correct Answer(s): A 4. Period Price Index Inflation Rate (Percent) 1 100 2 117 A 3 125 B 4 120 C 5 D 8.3 6 150 E
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In the table above, what inflation rate belongs in space A? A) 17.0 percent B) 6.8 percent C) 8.3 percent D) -4.0 percent Points Earned: 1.0/1.0 Correct Answer(s): A 5. Period Price Index Inflation Rate (Percent) 1 100 2 117 A 3 125 B 4 120 C 5 D 8.3 6 150 E In the table above, what inflation rate belongs in space B? A) 17.0 percent B) 6.8 percent C) 8.3 percent D) -4.0 percent
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Points Earned: 1.0/1.0 Correct Answer(s): B 6. When the United States imports goods and services from the rest of the world, A) we receive payments from the rest of the world. B) we make payments to the rest of the world. C) we increase our inflation rate. D) we decrease our inflation rate. Points Earned: 1.0/1.0 Correct Answer(s): B 7. Which of the following statements about the government budget is correct? A) Whenever tax revenues exceed government spending, the government has a budget deficit, B) As a fraction of GDP, the budget deficit has increased steadily since 1980. C) The government has had a budget deficit every year since 1970. D) None of the above is correct. Points Earned: 1.0/1.0 Correct Answer(s): D
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8. The principal goal of monetary policy is to A) reverse the productivity growth slowdown B) keep the budget deficit small and/or the budget surplus large. C) lower taxes D) maintain low inflation Points Earned: 1.0/1.0 Correct Answer(s): D 9. If the economy is in a recession, the Fed might A) reduce interest rates to stimulate the economy. B) cut tax rates to stimulate the economy.
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Quiz - Chapter 21 - Maximum number of choices allowed is...

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