Reference no: EM13243379
1. Which of the following represent the threeconsequences of the decline in demand during the Great Depression?
fall inprices, decline in output, and a surge inunemployment
rise inprices, decline in output, and a surge inunemployment
rise inprices, increase in output, and a surge inunemployment
fall inprices, increase in output, and a surge in unemployment
2. The short-run aggregate supply curve ispositively sloped because ______.
businesspeople suffer from money illusion
wages aresticky or don't readily adjust to changes in economic conditions inthe short run
workers careabout nominal wages, not real wages
ofdiminishing returns to labor
3. In the long run, the aggregate price levelhas ______.
no effect onthe quantity of aggregate output
a positiveeffect on the quantity of aggregate output
a negativeeffect on the quantity of aggregate output
an impact onaggregate output but no impact on employment
4. Producing a short-run level of aggregateoutput that exceeds the economy's potential output results in_______.
a downwardadjustment in nominal wages
an upwardadjustment in profits per unit of output
a downwardadjustment in production costs
an upwardadjustment in nominal wages
5. According to the wealth effect, whenprices decrease, the purchasing power of assets ______. (Points:1)
decreasesand consumer spending decreases
increasesand consumer spending decreases
decreasesand consumer spending increases
increasesand consumer spending increases
6. An increase in government spending onhealth care is likely to shift the ______.
short-runaggregate supply curve to the right
short-runaggregate supply curve to the left
aggregatedemand curve to the right
aggregatedemand curve to the left
7. A negative short-run supply shock ______.
reducesaggregate output and increases the aggregate pricelevel
increasesaggregate output and reduces the aggregate pricelevel
reducesaggregate output and the aggregate price level
increasesaggregate output and the aggregate price level
8. Suppose that the economy is in long-runmacroeconomic equilibrium and aggregate demand increases. Asthe economy moves to short-run macroeconomic equilibrium , there is______.
arecessionary gap with high inflation
arecessionary gap with low inflation
aninflationary gap with high unemployment
aninflationary gap with low unemployment
9. In the long run, inflationary andrecessionary gaps are self-correcting because, eventually ______.
nominalwages rise and fall in order to close an inflationary or arecessionary gap
thegovernment applies the right combination of fiscal and monetarypolicies
themultiplier compensates the negative supply or demandshocks
nominalwages rise and fall in order to widen a recessionary or aninflationary gap.
10. A increase in energy prices will _______.
decreaseshort-run aggregate supply
decreasethe quantity of aggregate output supplied in the shortrun
decreaseaggregate demand
increasethe quantity of aggregate output demanded
Identify the type of observational study
: Identify the type of observational study (cross-sectional, retrospective, or prospective) described
|
What people do when they arent sure if store will have goods
: Think of some other real-world examples where the competitive hypothesis is violated. What would need to be added to the basic supply and demand model to accurately predict what people do when they aren't sure
|
What is the maximum oscillation amplitude
: An ultrasonic transducer, of the type used in medical ultrasound imaging, is a very thin disk (m=0.10g ) driven back and forth in SHM at 1.0 MHz by an electromagnetic coil, What is the maximum oscillation amplitude that won't rupture the disk
|
There is an overall increase in income
: For this part of the assignment, we will focus on the demand curve. Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs.
|
Why inflationary andrecessionary gaps are self-correcting
: In the long run, inflationary andrecessionary gaps are self-correcting because, eventually. nominalwages rise and fall in order to close an inflationary or arecessionary gap thegovernment applies the right combination of fiscal and monetarypolicies t..
|
Determine the torque on the coil
: A circular coil 17.0cm in diameter and containing nine loops lies flat on the ground. The Earth's magnetic field at this location has magnitude 5.50×10?5T, Determine the torque on the coil
|
An illustration of the production possibilities model
: An illustration of the Production Possibilities model, including a summary of what the model is illustrating and the economic implications for the economy.
|
What is the density
: You need to determine the density of a ceramic statue. If you suspend it from a spring scale, the scale reads 28.4N. What is the density
|
What will be profit if entrepreneurs total revenue is given
: A firm pays in cash $250000 in wages, $55430 in interest onborrowed money capital and $74320 for the yearly rental of itsfactory building. If the entrepreneur worked for somebody else as a manager. What will be the total profit if the entrepreneur..
|