10.1.Ch.10__Study_Guide-Determining_National_Income

10.1.Ch.10__Study_Guide-Determining_National_Income - Ch....

Info iconThis preview shows pages 1–12. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 1 Q 1. When an economy comes to an equilibrium point below the full employment level, a phenomenon is known as: a) a recessionary gap. b) an inflation gap. c) full employment level. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 2 Q 2. When an economy comes to an equilibrium point above the full employment level, a phenomenon is known as: a) a recessionary gap. b) an inflation gap. c) full employment level. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 3 Figure 1-A Price Level AD2 AD1 AD3 AS 0 y2 y1 y3 NI Q 3. In Figure 1-A, gap between y1 to y2 is referred to as: a) a recessionary gap. b) an inflation gap. c) full employment level. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 4 Q 4. In Figure 1-A, gap between y1 to y3 is referred to as: Figure 1-A Price Level AD2 AD1 AD3 AS 0 y2 y1 y3 NI a) a recessionary gap. b) an inflation gap. c) full employment level. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 5 Q 5. In the U.S., the President and the Congress control a) the fiscal policy. b) the monetary policy. c) both a and b. d) neither a nor b. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 6 Q 6. In the U.S., the monetary policy is controlled by a) the President. b) the Congress. c) the President and the Congress. d) the Federal Reserve Bank. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 7 Q 7. Which of the following is not included as part of Fiscal Policy: a) Change in taxes rates. b) building freeways by the government. c) change in discount rates. d) Change in transfer payments. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 8 Q 8. Which of the following is not included as part of Fiscal Policy: a) Buying and selling of government securities. b) Change in taxes rates, c) Building freeways by the government. d) Change in transfer payments. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 9 Q 9. Which of the following is not included as part of monetary policy: a) change in discount rates. b) change in taxes rates . c) buying and selling of government securities. d) changing the required reserve ratios of commercial banks. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc. 10 Q 10. Which of the following is not included as part of monetary policy: a) change in discount rates. b) buying and selling of government securities. c) Change in transfer payments. Ch. 10 Study Guide - DETERMINING NATIONAL INCOME 2007, BK Publishing, Inc....
View Full Document

This note was uploaded on 03/22/2012 for the course ECON 1 taught by Professor Abdel-rahman during the Spring '08 term at Santa Monica.

Page1 / 182

10.1.Ch.10__Study_Guide-Determining_National_Income - Ch....

This preview shows document pages 1 - 12. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online