The short-run aggregate supply curve has: O A. a positive slope because as the inflation rate increases, so does the quantity of output supplied. B. a positive slope because as the inflation rate increases, the quantity of output supplied decreases. C. a negative slope because as the inflation rate increases, the quantity of output supplied decreases. OD. a negative slope because as the inflation rate increases, so does the quantity of output supplied.

The short-run aggregate supply curve has: O A. a positive slope because as the inflation rate increases, so does the quantity of output supplied. B. a positive slope because as the inflation rate increases, the quantity of output supplied decreases. C. a negative slope because as the inflation rate increases, the quantity of output supplied decreases. OD. a negative slope because as the inflation rate increases, so does the quantity of output supplied.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Price Level Long-run AS Y, Y₁ Short-run AS Quantity of Real Output Suppose the economy is operating in a recession such as point B in the graph. If policymakers allow the economy to adjust to the long-run natural level on its own O a people will reduce their price expectations and aggregate demand will shift right O b. people will reduce their price expectations and the short-run aggregate supply will shift right Opeople will raise their price expectations and the short-run aggregate supply will shift left O d. people will raise their price expectations and aggregate demand will shift left
A constant inflation rate is shown with aggregate demand shifting rightward O A. faster than the aggregate supply shifts leftward. B. at the same rate as the aggregate supply shifts rightward. C. faster than the aggregate supply shifts rightward. D. with no shifts in aggregate supply. O E. at the same rate as the aggregate supply shifts leftward.
Question 1 Which of the following is not a reason for the downward slope of the aggregate demand curve? O a. Interest-rate effect O b. Net exports effect O c. Government spending effect O d. Real balances effect
changes in step with the price level to Long run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the maintain full employment O A. interest rate O B. real wage rate O C. money wage rate O D. quantity of money Short-run aggregate supply is the relationship between the quantity of supplied and the when the money wage rate, the prices of other resources, and potential GDP remain constant O A. potential GDP, price level O B. real GDP, price level O C. nominal GDP, exchange rate O D. real GDP, interest rate
A price-level increase, Ceteris Paribus, will: Select one: O a. cause an upward movement along the aggregate demand curve. O b. cause a downward movement along the aggregate demand curve. O c. cause a rightward shift of the aggregate demand curve. O d. have no impact on the aggregate demand curve. O e. cause a leftward shift of the aggregate demand curve.
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Actual inflation is the sum of three separate components: .. O a. Accelerated, expected and output gap inflation. O b. Validated, expected and output gap inflation. O c. Output gap, expected and supply-shock inflation. O d. Accelerated, demand and supply inflation. O e. Output gap, wage-push and demand inflation.
does not increase output and employment but prices. O a. None of these O b. Inflationary gap O c. Deflationary gap O d. Equilibrium
Constant dollars are dollars Select one: O a. corrected for general price level changes. O b.issued by the Federal Reserve with values that fail to change even in the face of inflation or deflation. Oc. measured in terms of current-year prices. O d. issued by the U.S. Treasury with values that fail to change even in the face of inflation or deflation.
A period of inflation can be stopped by O A. increasing the growth rate of real output, to absorb consumer spending. O B. decreasing the money supply. O C. decreasing the interest rate, which causes aggregate demand to increase. O D. Answers A, B, and C all are correct. O E. None of the answers are correct.
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