Chat with AIExam 11: Classical and Keynesian Macro Analyses
Exam 1: The Nature of Economics347 Questions
Exam 2: Scarcity and the World of Trade-Offs411 Questions
Exam 3: Demand and Supply442 Questions
Exam 4: Extensions of Demand and Supply Analysis399 Questions
Exam 5: Public Spending and Public Choice359 Questions
Exam 6: Funding the Public Sector197 Questions
Exam 7: The Macroeconomy: Unemployment, inflation, and Deflation412 Questions
Exam 8: Measuring the Economys Performance416 Questions
Exam 9: Global Economic Growth and Development282 Questions
Exam 10: Real GDP and the Price Level in the Long Run290 Questions
Exam 11: Classical and Keynesian Macro Analyses365 Questions
Exam 12: Consumption, real GDP, and the Multiplier445 Questions
Exam 13: Fiscal Policy273 Questions
Exam 14: Deficit Spending and the Public Debt145 Questions
Exam 15: Money, banking, and Central Banking517 Questions
Exam 16: Domestic and International Dimensions of Monetary Policy354 Questions
Exam 17: Stabilization in an Integrated World Economy295 Questions
Exam 18: Policies and Prospects for Global Economic Growth216 Questions
Exam 32: Comparative Advantage and the Open Economy279 Questions
Exam 33: Exchange Rates and the Balance of Payments300 Questions
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The long-run aggregate supply curve is vertical at $10 trillion,but the short-run aggregate supply curve intersects the aggregate demand curve at $12 trillion.From this,we know that
(Multiple Choice)
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(31) Consequences of Changes in Aggregate Demand 
-Refer to the above figure.An increase in aggregate demand between real Gross Domestic Product (GDP)levels Y0 and Y1
-Refer to the above figure.An increase in aggregate demand between real Gross Domestic Product (GDP)levels Y0 and Y1 (Multiple Choice)
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(45) "According to Keynes,the economy is essentially a self-regulating system." Do you agree or disagree? Why?
(Essay)
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(31) The classical model indicates that at the equilibrium interest rate ,saving is
(Multiple Choice)
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(28) Suppose the euro appreciates against the dollar.This causes U.S.exports to become less expensive for consumers in the European Union,which would likely cause the U.S.
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(38) Q: How many economists does it take to screw in a light bulb? A: None.If the light bulb really needed changing,market forces would have already caused it to happen.
This joke represents the view of
(Multiple Choice)
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(27) Which of the following is NOT an event that causes BOTH the short-run aggregate supply (SRAS)curve and the long-run aggregate supply (LRAS)curve to shift?
(Multiple Choice)
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(35) What is the shape of the modern short-run aggregate supply (SRAS)curve? Why?
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(33) Suppose we observe the price level increasing and real GDP decreasing.An explanation for this is that
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(31) In the classical model,what occurs if a wage of $20/hour results in unemployed workers?
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(35) What is the underlying assumption of the original,simplified Keynesian model?
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(36) In the simple Keynesian portion of the upward sloping short-run aggregate supply curve,
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(35) Which of the following will shift the Keynesian short-run aggregate supply curve downward and to the right?
(Multiple Choice)
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(26) Suppose the economy in the diagram below is in long-run equilibrium.If government spending decreases and causes a movement from point A to point B in the diagram below,what are the short-run effects? Explain fully.
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(37) In the classical model,high unemployment due to a change in aggregate demand
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