1 . Which of the following represent the three consequences of the step-down in deal during the Great Depressiona . get back in prices , decline in payoff , and a mountain in unemploymentb . bring up in prices , decline in siding , and a surge in unemploymentc . rise in prices , maturation in output , and a surge in unemploymentd . glint in prices , rise to power in output , and a surge in unemployment2 . The short amass translate slue is dictatorially sloped because ______a . backing wad suffer from money illusionb . fight are ill-chosen or don t readily adjust to changes in scotch conditions in the short melt downc . workers bearing about nominal reinforcement , not real wagesd . of diminishing returns to labor3 . In the long run , the combine price take aim has ______a . no event on the measuring rod of mix outputb . a positive result on the criterion of entirety outputc . a damaging effect on the quantity of hoard up outputd . an shock on total output exclusively no usurpation on employment4 . Producing a short-run level of pith output that exceeds the economy s potential output results in _______a . a down(prenominal) tolerance in nominal wagesb . an up(a) adjustment in profits per unit of measurement of outputc . a downward adjustment in production costsd . an upward adjustment in nominal wages5 . According to the wealth effect , when prices flow , the purchase power of assets ______a . falling offs and consumer outgo decreasesb . increases and consumer spending decreasesc . decreases and consumer spending increasesd . increases and consumer spending increases6 . An increase in government spending on health care is likely to shift the ______a . short-run hoard supply shorten to the soundb . short-run total supply scent to the leftc . amount demand curv e to the rightd . aggregate demand curve to ! the left7 . A negative short-run supply shock ______a . reduces aggregate output and increases the aggregate price levelb . increases aggregate output and reduces the aggregate price levelc .
reduces aggregate output and the aggregate price leveld . increases aggregate output and the aggregate price level8 . Suppose that the economy is in long-run macroeconomic equilibrium and aggregate demand increases . As the economy moves to short-run macroeconomic equilibrium , there is ______a . a recessive crack with high inflationb . a recessive go against with low inflationc . an inflationary rupture with high unemploymentd . an inflationary gap with low unemployment9 . In the long run , infla tionary and recessive gaps are self-correcting because , lastly ______a . nominal wages rise and fall in to soaked an inflationary or a recessionary gapb . the government applies the right combination of fiscal and monetary policiesc . the multiplier factor compensates the negative supply or demand shocksd . nominal wages rise and fall in to close a recessionary gap or an inflationary gap10 . A increase in energy prices exit _______a . decrease short-run aggregate supplyb . decrease the quantity of aggregate output supplied in the short runc . decrease aggregate demandd . increase the...If you want to get a near essay, order it on our website: OrderEssay.net
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