Macroeconomics Quiz CH 7 M

Macroeconomics Quiz CH 7 M - Chapter 7 1. All of the...

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1. All of the following are held constant along a short-run aggregate supply curve except A) average price level. B) nominal wages. C) capital stock. D) factor prices. Points Earned: 10.0/10.0 Correct Answer(s): A 2. To eliminate a recessionary gap, policy-makers may pursue A) an intervention policy that decreases aggregate supply and increases aggregate demand. B) a contractionary policy that increases aggregate demand. C) a non-intervention policy that leaves aggregate supply unaffected and increases aggregate demand. D) an expansionary policy that increases aggregate demand. Points Earned: 10.0/10.0 Correct Answer(s): D 3. A change in the price level, all other things unchanged, causes A) both a movement along the aggregate demand curve and a shift in the curve. B) a shift of the aggregate demand curve. C) a movement along the aggregate demand curve. D) no change in the value of assets held in the form of money. Points Earned:
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Macroeconomics Quiz CH 7 M - Chapter 7 1. All of the...

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