Question 1

The concept of aggregate supply refers to a

Accepted Answer

A)  fixed number of output. 
B)  list of products demanded. 
C)  schedule of output. 
D)  schedule of production costs. 
A)  fixed number of output. 
B)  list of products demanded. 
C)  schedule of output. 
D)  schedule of production costs.

Question 2

Figure 10-1
  
-If the price level in Figure 10-1 were 100,

Accepted Answer

A)  firms would have to lower their prices. 
B)  inventories would be accumulating. 
C)  shortages of goods would exist. 
D)  aggregate quantity demanded would exceed aggregate quantity supplied. 
E)  both c and d would occur. 
A)  firms would have to lower their prices. 
B)  inventories would be accumulating. 
C)  shortages of goods would exist. 
D)  aggregate quantity demanded would exceed aggregate quantity supplied. 
E)  both c and d would occur.

Question 3

When the expenditure schedule is too low,the result is a(n)

Accepted Answer

A)  unemployment surplus. 
B)  inflationary gap. 
C)  recessionary gap. 
D)  budgetary gap. 
A)  unemployment surplus. 
B)  inflationary gap. 
C)  recessionary gap. 
D)  budgetary gap.

The concept of aggregate supply refers to a

Figure 10-1 -If the price level in Figure 10-1 were 100,

When the expenditure schedule is too low,the result is a(n)

What Is Economics?

The Economy: Myth and Reality

The Fundamental Economic Problem: Scarcity and Choice

Supply and Demand: An Initial Look

An Introduction to Macroeconomics

The Goals of Macroeconomic Policy

Economic Growth: Theory and Policy

Aggregate Demand and the Powerful Consumer

Demand-Side Equilibrium: Unemployment or Inflation?

Managing Aggregate Demand: Fiscal Policy

Money and the Banking System

Monetary Policy: Conventional and Unconventional

The Financial Crisis and the Great Recession

The Debate over Monetary and Fiscal Policy

Budget Deficits in the Short and Long Run

The Trade Off between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System: Order or Disorder?

Exchange Rates and the Macroeconomy

Filters

Exam 10: Bringing in the Supply Side: Unemployment and Inflation?

The concept of aggregate supply refers to a

Figure 10-1 -If the price level in Figure 10-1 were 100,

When the expenditure schedule is too low,the result is a(n)

What Is Economics?

The Economy: Myth and Reality

The Fundamental Economic Problem: Scarcity and Choice

Supply and Demand: An Initial Look

An Introduction to Macroeconomics

The Goals of Macroeconomic Policy

Economic Growth: Theory and Policy

Aggregate Demand and the Powerful Consumer

Demand-Side Equilibrium: Unemployment or Inflation?

Managing Aggregate Demand: Fiscal Policy

Money and the Banking System

Monetary Policy: Conventional and Unconventional

The Financial Crisis and the Great Recession

The Debate over Monetary and Fiscal Policy

Budget Deficits in the Short and Long Run

The Trade Off between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System: Order or Disorder?

Exchange Rates and the Macroeconomy

Filters