Exam 8: Inflation: Its Causes and Cures
Exam 1: What Is Macroeconomics71 Questions
Exam 2: The Measurement of Income, Prices, and Unemployment84 Questions
Exam 3: Spending, Income, and Interest Rates166 Questions
Exam 4: Monetary and Fiscal Policy in the Is-Lm Model147 Questions
Exam 5: The Government Budget, Foreign Borrowing, and the Twin Deficits79 Questions
Exam 6: International Trade, Exchange Rates, and Macroeconomic Policy149 Questions
Exam 7: Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy153 Questions
Exam 8: Inflation: Its Causes and Cures189 Questions
Exam 9: The Goals of Stabilization Policy: Low Inflation and Low Unemployment132 Questions
Exam 10: The Theory of Economic Growth113 Questions
Exam 11: The Big Questions of Economic Growth74 Questions
Exam 12: The Government Budget, the Public Debt, and Social Security106 Questions
Exam 13: Money and Financial Markets152 Questions
Exam 14: Stabilization Policy in the Closed and Open Economy135 Questions
Exam 15: The Economics of Consumption Behavior102 Questions
Exam 16: The Economics of Investment Behavior110 Questions
Exam 17: New Classical Macro Confronts New Keynesian Macro170 Questions
Exam 18: Conclusion: Where We Stand28 Questions
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"Okun's Law" is the close relationship observed between a period's ________ unemployment rate and ________.
(Multiple Choice)
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COLAs ________ the probability that a permanent adverse supply shock will permanently increase an economy's ________.
(Multiple Choice)
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A beneficial supply shock will shift the short-run Phillips Curve
(Multiple Choice)
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Figure 8-5
-In the figure above, from initial point A in the top diagram AD0 shifts to AD1, while at the same time the nominal wage rises by 5 percent. Short-run equilibrium occurs at point

(Multiple Choice)
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Figure 8-2
-In the figure above, a policy that maintains nominal GDP growth in the advent of an adverse supply shock is a(n)

(Multiple Choice)
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"Okun's Law" is the ________ relation between the ________ and the difference between the actual unemployment rate and the average rate of unemployment.
(Multiple Choice)
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From a long-run equilibrium with p = pe = 0, suppose x rises to 6. If initially pe remains at zero and p rises to 4, Y becomes
(Multiple Choice)
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With COLAs in effect, if the Fed wishes to avoid a permanent acceleration of inflation after a permanent adverse supply shock, it
(Multiple Choice)
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Suppose we are initially at a long-run SP/LP equilibrium with x = p = pe = 4. Then an adverse supply shock adds 3 percentage points to the inflation necessary to produce each level of output. A "neutral" policy response ________ the level of nominal GDP growth so that inflation is ________ percent while (Y/YN) ________.
(Multiple Choice)
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Given an adverse supply shock, an "extinguishing policy response" will
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Which of the following "theories" of the formation of expectations are discussed by Gordon?
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A positive relationship between inflation and unemployment emerged in
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On the historical diagram with (Y/YN) on the horizontal axis, the disinflationary loop that began in 1981 contained an unusual movement almost straight downward during ________, attributable to ________.
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Backward-looking expectations could be classified as a ________ theory.
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If actual real GDP (Q) is permanently greater than natural real GDP (YN)
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From an initial situation where P = 1.00 and Y = 100, 6 percent nominal GDP growth that causes P to go to 1.10 also causes Y to go to
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