Homework Answers
a) "A"
The cyclical deficit in the market will occur due to the fluctuation in the business cycle. the answer is "A".
b) "C"
A subsidy will shift the supply curve to the right in the market that will decease the price and increase the consumption.
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QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations...
QUESTION 18 Someone smoking in a crowded room is an example of: a positive production externality. a negative productio...
QUESTION 18 Someone smoking in a crowded room is an example of: a positive production externality. a negative production externality. a negative consumption externality. not an externality. QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations in GDP. that is the result of nondiscretionary federal spending. the result of discretionary federal spending- that would exist if the economy were at potential GDP. QUESTION 20 A subsidy paid to buyers to correct a market...
QUESTION 17 Suppose a firm produces pollution when it generates electricity. The cost of the pollution...
QUESTION 17 Suppose a firm produces pollution when it generates electricity. The cost of the pollution is called the private marginal cost. social marginal cost. marginal cost. external marginal cost QUESTION 18 Someone smoking in a crowded room is an example of a positive production externality. a negative production externality. a negative consumption externality. not an externality QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations in GDP that is the result of...
1. A cyclical deficit is the portion of the deficit that exists only when: the economy...
1. A cyclical deficit is the portion of the deficit that exists only when: the economy is at potential output/income the economy is in an inflationary gap the economy is in a recessionary gap The Treasury is buying back bonds 2. When the U.S. Government runs a deficit, the Fed has to buy bonds to finance the deficit Treasury has to sell bonds to finance the deficit Federal government tax revenues must be less than Federal government spending Both B...
A supply shock is A. an increase in the rate of inflation as a result of...
A supply shock is A. an increase in the rate of inflation as a result of expansionary fiscal policy, resulting in a leftward shift of the SRAS curve. B. a sudden increase in the price of an important natural resource, resulting in a leftward shift of the SRAS curve. O C. an increase potential GDP caused by a govemment expenditure multiplier, resulting in a leftward shift of the AD curve. D. an increase in both the inflation and the unemployment...
Check my answers please ?? MULTIPLE CHOICE. Choose the one alternative that best completes the statement...
Check my answers please ??
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) 1) The use of government taxes and spending to alter economic outcomes is known as A) Incomes policy Q) Monetary policy B) Foreign trade policy. D) Fiscal policy A- 2) 2) If full-employment output exceeds equilibrium output, greater deficit spending will result A) Smaller recessionary gap C) Smaller inflationary gap. B) Larger recessionary gap. D) None of the choices...
Question 1: A business cycle refers to: the short-run fluctuations in real GDP. the life-cycle of...
Question 1: A business cycle refers to: the short-run fluctuations in real GDP. the life-cycle of firms from infancy to maturity. the flow of goods and services and factors of production through the economy. the long-run trend of increasing real GDP. Question 2: Which of the following industries would experience the greatest increase in demand during an expansion? Accounting services. Baby supply industry. Hair care industry. The furniture industry.
Inflationary pressure in the AS-AD model can be shown as a leftward shift of the AD...
Inflationary pressure in the AS-AD model can be shown as a leftward shift of the AD curve when the economy is already producing at its potential GDP. supply shock that shifts the AS to the right. rightward shift of the AD curve when the economy is already producing at its potential GDP. Typically, if consumer and business confidence is high then ________ and if consumer and business confidence is low then ________. AD shifts to the left; AD shifts to...
2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c) Decrease,...
2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c) Decrease, increases d Increase, decreases which the recessionary gap 3) Suppose that the MPC is .75 and the U.S Federal Government reduces taxes by 10 million dollars. After 3 rounds of the multiplier process RGDP will change by a) 4.23 million b) 17.34 million c) 23.13 million dollars. d) 30 million 4) "George W. Bush's $152 billion tax rebate plan of 2008 was designed to...
Question 1 1 pts If an economist needs to use a model that collectively reflects the...
Question 1 1 pts If an economist needs to use a model that collectively reflects the interconnections and the entire market supply and demand relationships, which model is the best to use? The general equilibrium model. The cyclical unemployment model. The AD-AS model During the winter of 2014/2015 oil prices dropped by a large percentage compared to the summer of 2014 By March 2015, what changed? There was a shift to the left in the aggregate demand curve. There was...
5) The Great Recession beginning in 2007 was caused by a) The Federal Government reducing spending....
5) The Great Recession beginning in 2007 was caused by a) The Federal Government reducing spending. b) The rapid increase and subsequent decline in housing prices. c) Foreign countries reducing their demand for American Goods. d) Baby Boomers retiring from the economy. 6) Suppose that the economy is experiencing a recessionary gap. If you believe in "small government", then the most appropriate policy would be to a) Raise income taxes. b) Lower income taxes. c) Raise government spending. d) Lower...
QUESTION 18 Someone smoking in a crowded room is an example of: a positive production externality. a negative production externality. a negative consumption externality. not an externality. QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations in GDP. that is the result of nondiscretionary federal spending. the result of discretionary federal spending- that would exist if the economy were at potential GDP. QUESTION 20 A subsidy paid to buyers to correct a market...
QUESTION 17 Suppose a firm produces pollution when it generates electricity. The cost of the pollution is called the private marginal cost. social marginal cost. marginal cost. external marginal cost QUESTION 18 Someone smoking in a crowded room is an example of a positive production externality. a negative production externality. a negative consumption externality. not an externality QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations in GDP that is the result of...
A supply shock is A. an increase in the rate of inflation as a result of expansionary fiscal policy, resulting in a leftward shift of the SRAS curve. B. a sudden increase in the price of an important natural resource, resulting in a leftward shift of the SRAS curve. O C. an increase potential GDP caused by a govemment expenditure multiplier, resulting in a leftward shift of the AD curve. D. an increase in both the inflation and the unemployment...
Check my answers please ??
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) 1) The use of government taxes and spending to alter economic outcomes is known as A) Incomes policy Q) Monetary policy B) Foreign trade policy. D) Fiscal policy A- 2) 2) If full-employment output exceeds equilibrium output, greater deficit spending will result A) Smaller recessionary gap C) Smaller inflationary gap. B) Larger recessionary gap. D) None of the choices...
2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c) Decrease, increases d Increase, decreases which the recessionary gap 3) Suppose that the MPC is .75 and the U.S Federal Government reduces taxes by 10 million dollars. After 3 rounds of the multiplier process RGDP will change by a) 4.23 million b) 17.34 million c) 23.13 million dollars. d) 30 million 4) "George W. Bush's $152 billion tax rebate plan of 2008 was designed to...
Question 1 1 pts If an economist needs to use a model that collectively reflects the interconnections and the entire market supply and demand relationships, which model is the best to use? The general equilibrium model. The cyclical unemployment model. The AD-AS model During the winter of 2014/2015 oil prices dropped by a large percentage compared to the summer of 2014 By March 2015, what changed? There was a shift to the left in the aggregate demand curve. There was...
5) The Great Recession beginning in 2007 was caused by a) The Federal Government reducing spending. b) The rapid increase and subsequent decline in housing prices. c) Foreign countries reducing their demand for American Goods. d) Baby Boomers retiring from the economy. 6) Suppose that the economy is experiencing a recessionary gap. If you believe in "small government", then the most appropriate policy would be to a) Raise income taxes. b) Lower income taxes. c) Raise government spending. d) Lower...
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