Question

Q 28, 29, 31

According to the real business cycle​ theory, technological change

A.

can initially decrease productivity.

B.

is caused by changes in productivity.

C.

never increases productivity.

D.

always increases productivity.

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Suppose the country of Mooland imposes tariffs on imported beef from the country of Aqualand. As a result of the​ tariffs, the

A.

quantity of beef imported by Mooland decreases.

B.

quantity of beef exported by Mooland increases.

C.

price of beef in Mooland falls.

D.

quantity of beef imported by Mooland increases.

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As the money wage rate​ rises,

A.the

shortminus−run

aggregate supply curve shifts rightward.

B.both the

longminus−run

aggregate supply curve and the

shortminus−run

aggregate supply curve shift leftward.

C.the

longminus−run

aggregate supply curve shifts rightward.

D.the

shortminus−run

aggregate supply curve shifts leftward.

Answer 1

28. D. Always increases productivity

29. A. Quantity of beef imported by Mooland decreases.

30. D. The short−run aggregate supply curve shifts leftward.

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