Exam 16: Theory and Reality
Exam 1: The Challenge of Economics135 Questions
Exam 2: The US Economy131 Questions
Exam 3: Supply and Demand148 Questions
Exam 4: Consumer Demand137 Questions
Exam 5: Supply Decisions151 Questions
Exam 6: Competition146 Questions
Exam 7: Monopoly149 Questions
Exam 8: The Labor Market149 Questions
Exam 9: Government Intervention150 Questions
Exam 10: The Business Cycle149 Questions
Exam 11: Aggregate Supply and Demand149 Questions
Exam 12: Fiscal Policy150 Questions
Exam 13: Money and Banks149 Questions
Exam 14: Monetary Policy148 Questions
Exam 15: Economic Growth131 Questions
Exam 16: Theory and Reality149 Questions
Exam 17: International Trade149 Questions
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Automatic stabilizers result in substantial design lags due to congressional deliberations about which stabilizer to use in a given situation.
(True/False)
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Refer to Figure 16.1.
-Refer to Figure 16.1.If the economy is initially in equilibrium at P1 and Q2,the appropriate policy to move the economy to an equilibrium at P2 and Q3 would be to:

(Multiple Choice)
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Stagflation is caused by a leftward shift of the aggregate supply curve.
(True/False)
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The multiple by which an initial change in aggregate spending will alter total expenditure after an infinite number of spending cycles is the:
(Multiple Choice)
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Adjustments to economic policy designed to counteract small changes in economic outcomes are known as:
(Multiple Choice)
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Which of the following is likely to cause stagflation,ceteris paribus?
(Multiple Choice)
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Implementation problems can cause economic policies to affect the economy after the underlying problems have changed.
(True/False)
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According to ______,an appropriate policy action during a recession is to improve production incentives by reducing tax rates and government regulation.
(Multiple Choice)
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In terms of inflation,the U.S.economy performed the best from:
(Multiple Choice)
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Which of the following will cause a decrease in the price level and an increase in output,ceteris paribus?
(Multiple Choice)
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All of the following are an example of an automatic stabilizer except for:
(Multiple Choice)
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Which of the following will reduce inflation by decreasing the growth rate of the money supply?
(Multiple Choice)
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Table 16.1 - Obstacles to the success of economic policy
-When faced with rising prices,the Republicans and the Democrats disagree about how consumers will respond to a tax increase.(Choose from Table 16.1)

(Multiple Choice)
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The News Wire article titled "Tough Calls in Economic Forecasting" suggests that:
(Multiple Choice)
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Which of the following groups would advocate increasing government spending specifically on infrastructure development during a recession?
(Multiple Choice)
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Those who advocate the use of monetary policy believe that an increase in the money supply will shift the aggregate:
(Multiple Choice)
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