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Starting from long-run equilibrium, a large increase in government purchases will result in a output in the long run. gap in the short run and inflation and

Starting from long-run equilibrium, a large increase in government purchases will result in a output in the long run. gap in the short run and inflation and

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Starting from long-run equilibrium, a large increase in government purchases will result in a output in the long run. gap in the short run and inflation and Select one: O a. recessionary; higher; potential O b. expansionary; higher; potential O c. expansionary; lower; potential O d. expansionary; higher; higher One of the key factors determining average labour productivity in a country is: Select one: O a. mineral resources O b. the availability of financial assets Oc. the availability of land and other natural resources O d. the availability of population to work Following an adverse supply shock, people with anchored inflation expectations believe a central bank will: Select one: O a. keep its target inflation rate unchanged O b. lower its target inflation rate O c. raise it target inflation rate O d. accommodate the shock
Transcribed Image Text:Starting from long-run equilibrium, a large increase in government purchases will result in a output in the long run. gap in the short run and inflation and Select one: O a. recessionary; higher; potential O b. expansionary; higher; potential O c. expansionary; lower; potential O d. expansionary; higher; higher One of the key factors determining average labour productivity in a country is: Select one: O a. mineral resources O b. the availability of financial assets Oc. the availability of land and other natural resources O d. the availability of population to work Following an adverse supply shock, people with anchored inflation expectations believe a central bank will: Select one: O a. keep its target inflation rate unchanged O b. lower its target inflation rate O c. raise it target inflation rate O d. accommodate the shock
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