EC201 chapter_7_Quiz Full

4 b 23 c 63 d 105 answer a diff1 topic long rungrowth

Info iconThis preview shows page 1. Sign up to view the full content.

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

Unformatted text preview: AACSB: Reflective Thinking 5) The actual real rate of interest is the nominal rate less the actual inflation rate. Answer: TRUE Diff: 2 Topic: Inflation Skill: Definition 7.3 Lon gRun Gro wth 1 M ul ti pl e C h o i c e 1) Which of the following is NOT a desirable feature in an economy? A) rapid increase in output per worker B) rapid increase in the general price level C) low unemployment D) low inflation Answer: B Diff: 1 Topic: Long-Run Growth Skill: Conceptual AACSB: Reflective Thinking 2) Which of the following is a desirable characteristic in an economy? A) high inflation B) rapid increase in the general price level C) low unemployment D) low employment Answer: C Diff: 1 Topic: Long-Run Growth Skill: Conceptual AACSB: Reflective Thinking 3) Which of the following is a desirable characteristic in an economy? A) growing per capita output B) rapid increase in the general price level C) population growing the same rate as output D) population growing faster than output Answer: A Diff: 1 Topic: Long-Run Growth Skill: Conceptual AACSB: Reflective Thinking 4) Which of the following is a desirable characteristic in an economy? A) growing per capita output B) high inflation C) cyclical unemployment D) sustained deflation Answer: A Diff: 1 Topic: Long-Run Growth Skill: Conceptual AACSB: Reflective Thinking 5) Output in an economy can be increased...
View Full Document

Ask a homework question - tutors are online