Description of this paper

Strayer ECO 405 Multiple choice Quiz with 100% Correct Answers

Description

solution


Question

Question;Multiple choice Quiz1 Which of the following is a central issue in macroeconomics?A) the deregulation of the banking industryB) inflation of prescription drug pricesC) the effect of excise taxes on consumers' buying patternsD) none of the above2 Which of the following is NOT an issue in macroeconomics?A) issues relating to the balance of paymentB) the determination of prices in the agricultural sectorC) the relationship between inflation and unemploymentD) the possible effect of budget deficit increases on the level of investment3 In studying growth theoryA) we focus on the very long runB) we ignore recessions and boomsC) we assume that all inputs are fully employedD) all of the above4 In the very long runA) the position of the AD-curve depends on the productive capacity of the economyB) the position of the AS-curve depends on the degree of consumer confidenceC) the position of the AS-curve essentially determines the level of outputD) the position of the AD-curve is affected by changes in efficiency improvements5 The position of the long-run AS-curve is determined byA) the full-employment level of outputB) consumer confidenceC) fiscal policyD) monetary policy6 In the very long run,A) the AS-curve is verticalB) the AS-curve is horizontalC) the AS-curve is upward slopingD) the level of output is solely determined by the position of the AD-curve7 Which of the following is NOT true in the very short run?A) a shift in the AD-curve will change output but not pricesB) a shift in the AD-curve will change prices but not outputC) the AS-curve is horizontalD) the position of the AD-curve can be influenced by fiscal policy8 In the very short runA) the position of the AD-curve determines the level of outputB) the position of the AD-curve cannot be changed by fiscal or monetary policyC) a change in monetary policy will affect both the price level and the level of outputD) a change in fiscal policy will not change the level of output9 In the very short runA) the level of prices can change quite rapidly, but the level of output is fixedB) the level of prices is unaffected by the level of outputC) the level of prices and the level of output change with a shift in aggregate demandD) the level of prices and the level of output are both fixed10 In the medium run, restrictive fiscal policy will causeA) a decrease in the level of output but no change in the level of pricesB) a decrease in the level of prices but no change in the level of outputC) a decrease in both the level of prices and the level of outputD) a decrease in real GDP with no change in nominal GDP11 In the medium run, monetary policy can be used toA) shift the AD-curve, but this will only result in a price change, not in a change in real GDPB) affect nominal GDP, but this will not have any effect on real GDPC) lower the price level while increasing the level of real GDPD) lower the price level but only at the cost of also lowering the level of real GDP12 Periods of very high inflation ratesA) can only occur in a situation when the AS-curve is verticalB) most often are caused by sharp increases in aggregate demandC) can only occur if the output gap is largeD) most often occur when actual GDP is less than potential GDP13 Potential GDP isA) always greater than actual GDPB) the level of GDP if unemployment is zeroC) equal to nominal GDP adjusted for inflationD) none of the above14 Which of the following does NOT affect the trend path of GDP over time?A) efficiency improvementsB) an increase in population growthC) fluctuations in the unemployment rateD) the availability of capital equipment15 The output gap is defined asA) nominal GDP minus real GDPB) potential GDP minus actual GDPC) nominal GDP adjusted for inflationD) actual output minus the output that could be produced if the capital stock remained constant16 One of the main controversies in macroeconomics isA) whether the AS-curve is really flat in the very short runB) whether the AD-curve can be shifted by fiscal or monetary policyC) how steep the medium run AS-curve really isD) whether the level of output can be changed by an increase in the efficiency of the factors of production17 If we compare the trend path of GDP with the behavior of actual GDP in the U.S. over the last four decades, we realize thatA) actual GDP never went above potential GDPB) the output gap was never more than 5 percent of GDPC) the output gap never was negativeD) none of the above18 If we look at the growth of real GDP per capita around the world from 1913-98, we see thatA) the U.S. had the highest growth rate among industrial nationsB) the U.S. growth rate was about twice as high as that of the United KingdomC) the U.S. growth rate was only about half of Japan'sD) Japan was the only country with a growth rate higher than the U.S.19 Increases in the rate of inflationA) generally are inversely related to the output gapB) are more pronounced in periods of recessionC) always coincide with a decrease in the unemployment rateD) generally do not occur in periods of high growth in money supply20 If we look at the behavior of the U.S. CPI over the last four decades we realize that inflationA) never exceeded 10 percentB) steadily increased in the 1970sC) was, on average, lower in the 1990s than in the 1960sD) was at its highest in the early 1980s

 

Paper#56434 | Written in 18-Jul-2015

Price : $21
SiteLock