Homework Answers
Option 5. Increase and output will change very little
Explanation: In the vertical range, output does not change much with a change in the price.
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Question 9(Multiple Choice Worth 3 points) When consumer spending increases in the vertical range of SRAS,...
Question 16(Multiple Choice Worth 1 points) In an economy with a horizontal aggregate supply curve, a...
Question 16(Multiple Choice Worth 1 points) In an economy with a horizontal aggregate supply curve, a decrease in taxes will affect price level and employment in which of the following ways? Price Level / Employment Decrease / Increase Increase / Increase Increase / Decrease Increase / No Change No Change / Decrease No Change / Increase Question 17(Multiple Choice Worth 1 points) If personal income taxes are increased, we can expect that the short-run Phillips curve will shift left. the...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each change listed in the table below will cause an increase, decreased or no change in Aggregate Supply (AS). Always start with SEASO. 2. IN column 1, list which component of AS is affected: input prices or productivity 3. IN column 2, draw an up arrow if the change will cause an increase in AS, a down arrow if it will cause a decrease in...
Question 7 Suppose the legislature of Youngland voted to impose a protective tariff on microprocessor chips....
Question 7 Suppose the legislature of Youngland voted to impose a protective tariff on microprocessor chips. Which of the following would be true in the short run? There will be a decrease in microprocessor chip production in Youngland. There will be a decrease in supply of microprocessor chips in Youngland. There will be an increase in microprocessor chip production by foreign nations. I only. II only. III only. I and III only. II and III only. Question 13(Multiple Choice Worth...
Question 20(Multiple Choice Worth 1 points) If nominal interest rate equals 12 percent and inflation is...
Question 20(Multiple Choice Worth 1 points) If nominal interest rate equals 12 percent and inflation is 4 percent, then nominal and real interest rates are respectively 12 percent and 8 percent. 12 percent and 16 percent. 16 percent and 8 percent. 16 percent and 12 percent. 8 percent and 4 percent. Question 21(Multiple Choice Worth 1 points) If the workforce is paid more frequently, then real output will decrease. the money supply will increase. price level will decrease. velocity of...
Computation of GOP by the expenditures method would include the purchase of Multiple Choice land by...
Computation of GOP by the expenditures method would include the purchase of Multiple Choice land by the US Department of Interior. 0 O fertilizer by a former 0 cement by a construction company 0 0 government bonds by a commercial bank. < Prev 11 of 50 No > 30 || | 3 1 0 1 ; e Real gross domestic product Multiple Choice C will increase if the level of output increases О can change from one year to the...
Question 54 Supply-side fiscal policy focuses on: increases in government spending that lead to multiple increases...
Question 54 Supply-side fiscal policy focuses on: increases in government spending that lead to multiple increases in equilibrium income and output. decreases in government spending and taxing in order to decrease the impact of government on the supply-side of the economy. decreases in marginal tax rates designed to increase incentives to work and produce. increases in tax rates designed to increase government revenue, which will enable government to supply more social programs.
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase...
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase in the Marginal Propensity to Consume An increase in the price of oil An increase in the amount of human capital A decrease in the actual price level Question 4 Suppose the economy is in its long run equilibrium. If there is a decrease in consumption, what happens in the short run? Price level rises and output rises...
Question 9 Multiple Choice Worth 3 points) With the discovery of magnetic reversals, there was evidence...
Question 9 Multiple Choice Worth 3 points) With the discovery of magnetic reversals, there was evidence that the sea floor could create new continental crust. the seafloor contains alternate bands of minerals. only seafloor (oceanic) crust was capable of drifting. the sea floor was younger away from spreading centers. the seafloor contained a mechanism for plate tectonics.
Question 29 (3 points) Exhibit 11-2 Price lovel Potential output SRAS BOP If the government wants...
Question 29 (3 points) Exhibit 11-2 Price lovel Potential output SRAS BOP If the government wants the economy illustrated in Exhibit 11-2 to be at full employment, it should Odo none of the above increase taxes wait for the SRAS curve to shift to the left O decrease government purchases decrease transfer payments Previous Page Next Page Page 29 of 30
Question 40 (1 point) ✓ Saved If government spending increases and taxes decrease: implicit liabilities will...
Question 40 (1 point) ✓ Saved If government spending increases and taxes decrease: implicit liabilities will increase. O implicit liabilities will decrease. the public debt will increase. the public debt will decrease. new 1 Question 30 (1 point) The aggregate demand curve: slopes downward for the same reasons that an ordinary demand curve does. slopes downward in part because when the price level falls the real wealth of the public falls, and this induces people to change their consumption. slopes...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each change listed in the table below will cause an increase, decreased or no change in Aggregate Supply (AS). Always start with SEASO. 2. IN column 1, list which component of AS is affected: input prices or productivity 3. IN column 2, draw an up arrow if the change will cause an increase in AS, a down arrow if it will cause a decrease in...
Computation of GOP by the expenditures method would include the purchase of Multiple Choice land by the US Department of Interior. 0 O fertilizer by a former 0 cement by a construction company 0 0 government bonds by a commercial bank. < Prev 11 of 50 No > 30 || | 3 1 0 1 ; e Real gross domestic product Multiple Choice C will increase if the level of output increases О can change from one year to the...
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase in the Marginal Propensity to Consume An increase in the price of oil An increase in the amount of human capital A decrease in the actual price level Question 4 Suppose the economy is in its long run equilibrium. If there is a decrease in consumption, what happens in the short run? Price level rises and output rises...
Question 9 Multiple Choice Worth 3 points) With the discovery of magnetic reversals, there was evidence that the sea floor could create new continental crust. the seafloor contains alternate bands of minerals. only seafloor (oceanic) crust was capable of drifting. the sea floor was younger away from spreading centers. the seafloor contained a mechanism for plate tectonics.
Question 29 (3 points) Exhibit 11-2 Price lovel Potential output SRAS BOP If the government wants the economy illustrated in Exhibit 11-2 to be at full employment, it should Odo none of the above increase taxes wait for the SRAS curve to shift to the left O decrease government purchases decrease transfer payments Previous Page Next Page Page 29 of 30
Question 40 (1 point) ✓ Saved If government spending increases and taxes decrease: implicit liabilities will increase. O implicit liabilities will decrease. the public debt will increase. the public debt will decrease. new 1 Question 30 (1 point) The aggregate demand curve: slopes downward for the same reasons that an ordinary demand curve does. slopes downward in part because when the price level falls the real wealth of the public falls, and this induces people to change their consumption. slopes...
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