Econ201
Question 1
If a Phillips curve shows that unemployment is high and inflation is low in the economy, then that economy:
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Question 2
In a Keynesian cross diagram, what name is given to the distance between an output level that is below potential GDP and the level of potential GDP?
Question 16 options:
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Question 3
Which of the following will cause the multiplier to be smaller and cause changes in investor confidence to have a smaller effect in an economy?
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Question 4
Aggregate demand is more likely to _________________ than aggregate supply in the short run.
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Question 5
Keynesian economics focuses on explaining why recessions and depressions occur, as well as offering a ______________________ for minimizing their effects.
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Question 6
Which of the following is a distinguishing characteristic of a Keynesian cross diagram?
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Question 7
Which of the following data would be analyzed to determine whether any shift in the MPI has occurred over the course of the past 5 year period?
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Question 8
According to the _____________________ argument, a market-oriented economy has no obvious way to implement a plan of systematic wage reductions.
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