Question 1

Supply shocks move unemployment and inflation in

Accepted Answer

A)  the same directions, as the Phillips Curve suggests. 
B)  opposite directions, as the Phillips Curve suggests. 
C)  the same directions, which is not what the Phillips Curve suggests. 
D)  opposite directions, which is not what the Phillips Curve suggests. 
E)  circles. 
A)  the same directions, as the Phillips Curve suggests. 
B)  opposite directions, as the Phillips Curve suggests. 
C)  the same directions, which is not what the Phillips Curve suggests. 
D)  opposite directions, which is not what the Phillips Curve suggests. 
E)  circles.

Question 2

The origins of most shocks for the "No - Markets Fail Often" camp are internal to the economy.

Accepted Answer

A) True 
 B)False

Question 3

Short-run aggregate supply increases if

Accepted Answer

A)  the price level falls. 
B)  prices for resource inputs fall. 
C)  prices for resource inputs rise. 
D)  the price level rises. 
E)  government transfer payments decrease. 
A)  the price level falls. 
B)  prices for resource inputs fall. 
C)  prices for resource inputs rise. 
D)  the price level rises. 
E)  government transfer payments decrease.

Question 4

The "Yes - Markets Self-Adjust" camp believes that people make logical, rational choices, based on the best information available.

Accepted Answer

A) True 
 B)False

Supply shocks move unemployment and inflation in

The origins of most shocks for the "No - Markets Fail Often" camp are internal to the economy.

Short-run aggregate supply increases if

The "Yes - Markets Self-Adjust" camp believes that people make logical, rational choices, based on the best information available.

Whats in Economics for You Scarcity, Opportunity Cost, Trade, and Models

Making Smart Choices: the Law of Demand

Show Me the Money: the Law of Supply

Coordinating Smart Choices: Demand and Supply

Are Your Smart Choices Smart for All Macroeconomics and Microeconomics

Up Around the Circular Flow: Gdp, Economic Growth, and Business Cycles

Costs of Not Working and Living: Unemployment and Inflation

Money Is for Lunatics: Demanders and Suppliers of Money

Trading Dollars for Dollars Exchange Rates and Payments With the Rest of the World

Steering Blindly Monetary Policy and the Bank of Canada

Spending Others Money: Fiscal Policy, Deficits, and National Debt

Are Sweatshops All Bad Globalization and Trade Policy

Filters

Exam 8: Skating to Where the Puck Is Going: Aggregate Supply and Aggregate Demand

Supply shocks move unemployment and inflation in

The origins of most shocks for the "No - Markets Fail Often" camp are internal to the economy.

Short-run aggregate supply increases if

The "Yes - Markets Self-Adjust" camp believes that people make logical, rational choices, based on the best information available.

Whats in Economics for You Scarcity, Opportunity Cost, Trade, and Models

Making Smart Choices: the Law of Demand

Show Me the Money: the Law of Supply

Coordinating Smart Choices: Demand and Supply

Are Your Smart Choices Smart for All Macroeconomics and Microeconomics

Up Around the Circular Flow: Gdp, Economic Growth, and Business Cycles

Costs of Not Working and Living: Unemployment and Inflation

Money Is for Lunatics: Demanders and Suppliers of Money

Trading Dollars for Dollars Exchange Rates and Payments With the Rest of the World

Steering Blindly Monetary Policy and the Bank of Canada

Spending Others Money: Fiscal Policy, Deficits, and National Debt

Are Sweatshops All Bad Globalization and Trade Policy

Filters