6923244
Descripción
Test por Natalie Balzert, actualizado hace más de 1 año
|
Creado por Natalie Balzert
hace más de 7 años
|
|
Pregunta 1
Pregunta
Aggregate Supply represents:
Respuesta
-
total expenditure in the economy
-
total production in the economy
-
total of all wages paid in the economy
-
a and b only
-
a, b, and c
Pregunta 2
Pregunta
Two other names for the LRAS is [blank_start]Natural Real GDP[blank_end], [blank_start]Full Employment Real GDP[blank_end].
Respuesta
-
Natural Real GDP
-
Full Employment Real GDP
Pregunta 3
Pregunta
An oil price decrease in the US should shift:
Respuesta
-
aggregate demand to the left
-
aggregate supply to the left
-
aggregate demand to the right
-
aggregate supply to the right
Pregunta 4
Pregunta
An oil price decrease in the US should increase prices and lower Real GPD.
Respuesta
- True
- False
Pregunta 5
Pregunta
An increase in the money supply would shift:
Respuesta
-
aggregate demand to the left
-
aggregate supply to the left
-
aggregate demand to the right
-
aggregate supply to the right
Pregunta 6
Pregunta
A government budget cut would shift:
Respuesta
-
aggregate demand to the left
-
aggregate supply to the left
-
aggregate demand to the right
-
aggregate supply yo the right
Pregunta 7
Pregunta
A government budget cut would:
Respuesta
-
increase prices and lower Real GDP
-
increase prices and raise Real GDP
-
decrease prices and lower Real GDP
-
decease prices and raise Real GDP
Pregunta 8
Pregunta
An increase in US imports would:
Respuesta
-
increase prices and lower Real GDP
-
Increase prices and raise Real GDP
-
decrease prices and lower Real GDP
-
decrease prices and raise Real GDP
Pregunta 9
Pregunta
In a Classical view of the world, what factor makes savings equal to investment?
Respuesta
-
wages
-
interest rates
-
neither a or b
-
a and b together
Pregunta 10
Pregunta
Classical economists believe the government never should try to balance the economy, it is better left alone.
Respuesta
- True
- False
Pregunta 11
Pregunta
Say's Law is:
Respuesta
-
good money drives bad money out of the circulation
-
production creates the income necessary to buy everything produced
-
prices must adjust so that all goods produced are sold
-
equilibrium always exists
Pregunta 12
Pregunta
Classical economists believe that in the long run, whether or not there is unemployment is determined solely by aggregate supply, not aggregate demand.
Respuesta
- True
- False
Pregunta 13
Pregunta
If my wage was $10 per hour and bread cost $2.50 per loaf last month and this month my wage is $9 per month and bread costs $3 per loaf, my nominal wage has fallen and my real wage has risen.
Respuesta
- True
- False
Pregunta 14
Pregunta
[blank_start]Thomas Malthus[blank_end] was the person who believed that population growth would outpace the food supply.
Respuesta
-
Thomas Malthus
Pregunta 15
Pregunta
A recessionary gap would be eliminated, according to Classical economists:
Respuesta
-
only through government spending and taxing changes
-
because wages fall, without any government spending action
-
because wages fall, caused by actions of the government
-
because wages rise, without any government action
Pregunta 16
Pregunta
Classical economists believed the economy would reach a "stationary state" in the long run.
Respuesta
- True
- False
Pregunta 17
Pregunta
Classical economics is based on the concept that markets always give the correct price and that they move to that price quickly.
Respuesta
- True
- False
Pregunta 18
Pregunta
Suppose my income this month is $8,000 and I spent $7,000, and last month my income was $6,000 and I spent $6,000. What is my MPC? My MPC is [blank_start]0.5[blank_end].
Respuesta
-
0.5
Pregunta 19
Pregunta
If my MPC is what you calculated previously, a &50 billion increase in government spending would cuase how big a change in GDP? $ [blank_start]100[blank_end] B.
Respuesta
-
100
Pregunta 20
Pregunta
A recessionary gap would be eliminated, according to Keynesian economists:
Respuesta
-
only though government action
-
because wages fall, without any government action
-
because wages fall, caused by actions of the government
-
because wages rise, without any government action
Pregunta 21
Pregunta
To Keynes, the most common cause of recessions is not enough:
Respuesta
-
consumption
-
investment
-
savings
-
prices
Pregunta 22
Pregunta
According to Keynes, in the long run we are all [blank_start]dead[blank_end].
Respuesta
-
dead
Pregunta 23
Pregunta
According to Keynes, the most important determinant of investment is [blank_start]expectations[blank_end].
Respuesta
-
expectations
Pregunta 24
Pregunta
Keynes' other expression for the previous answer is [blank_start]Animal Spirit[blank_end].
Respuesta
-
Animal Spirit
Pregunta 25
Pregunta
In Keynes' view, savings and investment do not have to be equal, where in the Classical view they always were.
Respuesta
- True
- False
Pregunta 26
Pregunta
Keynes believed the Great Depression came about because:
Respuesta
-
wages did not fall far enough
-
wages did not fall fast enough
-
wages fell, but prices didn't
-
none of the above
Pregunta 27
Pregunta
Keynes' theory is based primarily around:
Respuesta
-
aggregate demand
-
aggregate supply
-
using both aggregate demand and aggregate supply together
-
2:30 in the afternoon
Pregunta 28
Pregunta
According to Keynes, the most important determinant of savings is [blank_start]income[blank_end].
Respuesta
-
income
Pregunta 29
Pregunta
According to the Classical Theory, savings and investments are determined by [blank_start]interest rates[blank_end].
Respuesta
-
interest rates
Pregunta 30
Pregunta
[blank_start]Arthur Laffer[blank_end] is the person who is thought of as the creator of supply side economics.
Respuesta
-
Arthur Laffer
Pregunta 31
Pregunta
According to supply side theory, the Reagan and Bush tax cuts which targeted the rich will [blank_start]trickle down[blank_end] to the poor and middle class, helping everyone eventually.
Respuesta
-
trickle down
Pregunta 32
Pregunta
One legacy of supply side economics is that we now care anout what variable in macroeconomics that we did not before?
Respuesta
-
investment
-
nominal wages
-
worker productivity
-
taxes
Pregunta 33
Pregunta
According to your professor, John Lennon was killed by [blank_start]income taxes[blank_end].
Respuesta
-
income taxes
Pregunta 34
Pregunta
The equation of exchange is [blank_start]MV[blank_end] = [blank_start]PQ[blank_end].
Respuesta
-
MV
-
PQ
Pregunta 35
Pregunta
[blank_start]Milton Friedman[blank_end] is the person we associate with this equation in modern times.
Respuesta
-
Milton Friedman
Pregunta 36
Pregunta
The equation of exchange as interpreted by the person in the previous question says that increases in the money supply cause inflation and decrease in the money supply cause recessions.
Respuesta
- True
- False
Pregunta 37
Pregunta
The Neo-Classical [blank_start]Synthesis[blank_end] is the bringing together of Classical and Keynesian theory into modern economic theories.
Respuesta
-
Synthesis
Pregunta 38
Pregunta
New Keynesian economists blame recessions on:
Respuesta
-
"sticky" wages and prices
-
lack of spending
-
supply shocks
-
effective demand failures
Pregunta 39
Pregunta
New Classical economists blame recessions on:
Respuesta
-
"sticky" wages and prices
-
lack of spending
-
supply shocks
-
effective demand failures
Pregunta 40
Pregunta
Ben Bernanke, former chair of the Federal Reserve, blames the 2007 recession om too much savings coming into the United States, mostly from China.
Respuesta
- True
- False
Pregunta 41
Pregunta
Both New Keynesians and New Classicals believe the economy works according to Classical theory in the long run.
Respuesta
- True
- False
Pregunta 42
Pregunta
Aggregate Demand is:
Respuesta
-
total expenditure in the economy
-
total production in the economy
-
total consumer activity in the economy
-
both a and b
Pregunta 43
Pregunta
Keynesian economists believed that interest rates are determined by:
Respuesta
-
savings and investment
-
supply and demand for money
-
supply and demand for investment
-
money and savings
Pregunta 44
Pregunta
According to the Keynesians, the economy may be in disequiliribium.
Respuesta
- True
- False
Pregunta 45
Pregunta
The key to supply side economics is [blank_start]incentives[blank_end].
Respuesta
-
incentives
Pregunta 46
Pregunta
According to a Keynesian, _____ is the most volatile factor of the following:
Respuesta
-
consumption
-
taxes
-
savings
-
investment
Pregunta 47
Pregunta
Supply Side economics was correct in predicting that deregulation targeted at individual industries would improve the performance of the whole economy.
Respuesta
- True
- False
Pregunta 48
Pregunta
Most modern economists are:
Respuesta
-
New Monetarists
-
New Keynesians
-
New Classicals
-
New Orleans
Pregunta 49
Pregunta
The Laffer Curve says that there is a trade-off between inflation and unemployment.
Respuesta
- True
- False
Pregunta 50
Pregunta
New Classicals argue that new technologies destroy old jobs before they create many new jobs.
Respuesta
- True
- False
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.