Question 1

In the late 1990s,it is likely that potential GDP grew faster than it had in the previous 20 years.

Accepted Answer

A) True 
 B)False

Question 2

In the late 1990s,it was likely that:

Accepted Answer

A) the GDP gap was almost zero. 
B) actual GDP grew more slowly than it had in the previous 20 years. 
C) the GDP gap was larger than it had been in the previous 20 years. 
D) potential GDP grew faster than it had in the previous 20 years. 
E) None of the above is correct. 
A) the GDP gap was almost zero. 
B) actual GDP grew more slowly than it had in the previous 20 years. 
C) the GDP gap was larger than it had been in the previous 20 years. 
D) potential GDP grew faster than it had in the previous 20 years. 
E) None of the above is correct.

Question 3

In the long run,real GDP is determined by very low rates of unemployment.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following has not contributed to higher standards of living in the long run?

Accepted Answer

A) productivity 
B) investment in physical capital 
C) investment in human capital 
D) the stock of technology 
E) lower interest rates 
A) productivity 
B) investment in physical capital 
C) investment in human capital 
D) the stock of technology 
E) lower interest rates

Question 5

Standards of living in the long run have been improved by higher inflation.

Accepted Answer

A) True 
 B)False

Question 6

In the short run,

Accepted Answer

A) inflation has inertia. 
B) the classical dichotomy does not hold. 
C) inflation adjusts instantly. 
D) inflation is governed only by money. 
E) a and b are correct. 
A) inflation has inertia. 
B) the classical dichotomy does not hold. 
C) inflation adjusts instantly. 
D) inflation is governed only by money. 
E) a and b are correct.

Question 7

If we cannot accurately measure potential GDP,we might overestimate the severity of a recession.

Accepted Answer

A) True 
 B)False

Question 8

In the long run,real GDP is determined by:

Accepted Answer

A) low and stable inflation. 
B) real forces in the economy such as investment,productivity,and technology. 
C) very low rates of unemployment. 
D) low tax rates. 
E) low oil prices. 
A) low and stable inflation. 
B) real forces in the economy such as investment,productivity,and technology. 
C) very low rates of unemployment. 
D) low tax rates. 
E) low oil prices.

Question 9

Which of the following has not contributed to higher standards of living in the long run?

Accepted Answer

A) the stock of technology 
B) investment in physical capital 
C) investment in human capital 
D) stable monetary policy 
E) productivity 
A) the stock of technology 
B) investment in physical capital 
C) investment in human capital 
D) stable monetary policy 
E) productivity

Question 10

In the long run,the unemployment rate:

Accepted Answer

A) is zero. 
B) is determined primarily by institutional features of the labor market. 
C) is determined primarily by structural features of the labor market. 
D) is determined primarily by the business cycle. 
E) is indeterminate. 
A) is zero. 
B) is determined primarily by institutional features of the labor market. 
C) is determined primarily by structural features of the labor market. 
D) is determined primarily by the business cycle. 
E) is indeterminate.

Question 11

Name three contributing factors to standards of living in the long run.

Accepted Answer

• investment in physical capit

In the late 1990s,it is likely that potential GDP grew faster than it had in the previous 20 years.

In the late 1990s,it was likely that:

In the long run,real GDP is determined by very low rates of unemployment.

Which of the following has not contributed to higher standards of living in the long run?

Standards of living in the long run have been improved by higher inflation.

In the short run,

If we cannot accurately measure potential GDP,we might overestimate the severity of a recession.

In the long run,real GDP is determined by:

Which of the following has not contributed to higher standards of living in the long run?

In the long run,the unemployment rate:

Name three contributing factors to standards of living in the long run.

Introduction to Macroeconomics

Measuring the Macroeconomy

An Overview of Long- Run Economic Growth

A Model of Production

The Solow Growth Model

Growth and Ideas

The Labor Market,wages,and Unemployment

Inflation

An Introduction to the Short Run

The Great Recession: a First Look

The Is Curve

Monetary Policy and the Phillips Curve

Stabilization Policy and the Asad Framework

The Great Recession and the Short-Run Model

Consumption

Investment

The Government and the Macroeconomy

International Trade

Exchange Rates and International Finance

Filters

Exam 20: Parting Thoughts

In the late 1990s,it is likely that potential GDP grew faster than it had in the previous 20 years.

In the late 1990s,it was likely that:

In the long run,real GDP is determined by very low rates of unemployment.

Which of the following has not contributed to higher standards of living in the long run?

Standards of living in the long run have been improved by higher inflation.

In the short run,

If we cannot accurately measure potential GDP,we might overestimate the severity of a recession.

In the long run,real GDP is determined by:

Which of the following has not contributed to higher standards of living in the long run?

In the long run,the unemployment rate:

Name three contributing factors to standards of living in the long run.

Introduction to Macroeconomics

Measuring the Macroeconomy

An Overview of Long- Run Economic Growth

A Model of Production

The Solow Growth Model

Growth and Ideas

The Labor Market,wages,and Unemployment

Inflation

An Introduction to the Short Run

The Great Recession: a First Look

The Is Curve

Monetary Policy and the Phillips Curve

Stabilization Policy and the Asad Framework

The Great Recession and the Short-Run Model

Consumption

Investment

The Government and the Macroeconomy

International Trade

Exchange Rates and International Finance

Filters