7.5 Quiz_ The Keynesian Model_ Principles of Macroeconomics 32870-933

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2023/3/18 上午 12:50 7.5 Quiz: The Keynesian Model: Principles of Macroeconomics 32870-933 https://ccsf.instructure.com/courses/53429/quizzes/355520 1/6 Due Mar 19 at 11:59pm Points 100 Questions 10 Time Limit 60 Minutes Allowed Attempts 3 Instructions Module 7.5 Quiz: The Keynesian Model Purpose The purpose of this quiz is to review the Keynesian Aggregate Expenditures Model, the spending multiplier process, the recessionary and inflationary gaps and the main differences between the Keynesian and Classical Models. Quiz Instructions After carefully reviewing the text and the videos in this Module, please complete this quiz. You are allowed 3 attempts and the highest score will be used for your grade. As you take the quiz, you will see all of the questions on one page. You have 60 minutes to complete this quiz. Submission When you have completed the quiz to the best of your ability, click the "Submit Quiz" button located at the bottom right of the screen. Helpful Resources How do I take a quiz? (https://community.canvaslms.com/docs/DOC-10645-421241977)
2023/3/18 上午 12:50 7.5 Quiz: The Keynesian Model: Principles of Macroeconomics 32870-933 https://ccsf.instructure.com/courses/53429/quizzes/355520 2/6 Attempt History Attempt Time Score LATEST Attempt 1 14 minutes 90 out of 100 Correct answers are hidden. Score for this attempt: 90 out of 100 Submitted Mar 18 at 12:50am This attempt took 14 minutes. Take the Quiz Again 10 / 10 pts Question 1 Keynes’ criticism of the classical theory was that the Great Depression would not correct itself. The multiplier effect would restore an economy to full employment if government spending were decreased. government taxes were increased. government spending were increased. government would follow a “least government is the best government” policy. 10 / 10 pts Question 2 Which of the following changes produces a leftward shift in the investment demand curve?
2023/3/18 上午 12:50 7.5 Quiz: The Keynesian Model: Principles of Macroeconomics 32870-933 https://ccsf.instructure.com/courses/53429/quizzes/355520 3/6 A wave of optimism about future profitability High plant capacity utilization New tax breaks for businesses An increase in business taxes 10 / 10 pts Question 3 If the marginal propensity to consume (MPC) is 0.75, a $50 billion decrease in government spending would cause equilibrium output to increase by $50 billion. increase by $200 billion. decrease by $200 billion. decrease by $50 billion. 10 / 10 pts Question 4 Use the aggregate expenditures model and assume an economy is in equilibrium at $5 trillion, which is $250 billion above full-employment GDP. If the marginal propensity to consumer (MPC) is 0.60, full- employment GDP can be reached if government spending decreases by $60 billion. is held constant. decreases by $250 billion. decreases by $100 billion.
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2023/3/18 上午 12:50 7.5 Quiz: The Keynesian Model: Principles of Macroeconomics 32870-933 https://ccsf.instructure.com/courses/53429/quizzes/355520 4/6 10 / 10 pts Question 5 If the value of the marginal propensity to consume (MPC) is 0.50, the value of the spending multiplier is 1 2 0.5 5 10 / 10 pts Question 6 The investment demand curve represents the relationship between business spending for investment goods and disposable income. saving. interest rates. GDP. 10 / 10 pts Question 7 The consumption function represents the relationship between consumer expenditures and
2023/3/18 上午 12:50 7.5 Quiz: The Keynesian Model: Principles of Macroeconomics 32870-933 https://ccsf.instructure.com/courses/53429/quizzes/355520 5/6 disposable income. the price level. saving. interest rates. 10 / 10 pts Question 8 Which of the following changes produces an upward shift in the consumption function? A decrease in autonomous consumption A decrease in consumer wealth An increase in disposable income An increase in consumer wealth 10 / 10 pts Question 9 The French classical economist Jean Baptiste Say transformed the equality of production and spending into a law that can be expressed as follows: Supply creates its own demand. Aggregate output does not always equal consumption. Wages always fall to the subsistence level. The invisible hand creates its own supply.
2023/3/18 上午 12:50 7.5 Quiz: The Keynesian Model: Principles of Macroeconomics 32870-933 https://ccsf.instructure.com/courses/53429/quizzes/355520 6/6 0 / 10 pts Question 10 Incorrect Incorrect John Maynard Keynes proposed that the multiplier effect can correct an economic depression. Based on this theory, an increase in equilibrium output would be created by an initial increase in investment. decrease in government spending. increase in consumption increase in government spending. Quiz Score: 90 out of 100
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