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5 Written questions

5 Matching questions

  1. Supply Side Economics
  2. Budget surplus
  3. Unit of Account
  4. Natural Unemployment
  5. Producer surplus
  1. a -unit of measurement used by most people to post prices and keep track of revenues and costs
  2. b the belief that changes in the marginal tax rate will exert important effects on aggregate supply
  3. c the combination of Structual unemployment and frictional unemployment and is not fixed but affected by the structure of labor force and public policy
  4. d -the difference between price producers are willing to accept and price they actually receive
    -area above the supply but below the price
  5. e government revenue is great than government spending

5 Multiple choice questions

  1. shift in monetary policy designed to stimulate aggregate demand.
  2. unemployment due to recessions and inadequate labor demand
  3. percent of population age 16 and over who is in the civilian labor force
  4. percentage of people in the labor force who are unemployed
  5. -total market value of all final goods and services produced by the citizens of a country
    -counts income that americans earn abroad
    -ignores the income foreigners earn in the U.S.

5 True/False questions

  1. M2M1 + savings deposits + time deposits(less than 100, 000) + money market mutual funds


  2. Normative Economic Statement-statement is not testable


  3. Quantity theory of Moneynominal interest rate-inflationary premium
    -price of loanable funds
    -Interest rate adjusted for inflation


  4. Effect of Unanticipated expansionary monetary policy-Economy is in recession


  5. Unemployed personActively seeking employment (in last 4 weeks) or waiting to start or return to a job