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5 Written questions

5 Matching questions

  1. Quantity Demanded
  2. Lower Interest rate causes
  3. Natural Unemployment
  4. Actual Inflation < Anticipated Inflation
  5. High and variable inflation
  1. a -consumption and investment to increase
    -net exports to increase
    -asset prices to increase
  2. b borrowers lose, lenders gain
  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 -reduces investment
    -distorts the information delivered by prices
    -results in less productive use of resources
  5. e -Movement along the curve due to a change in PRICE of a good

5 Multiple choice questions

  1. -Change in Resource base
    -change in technology
    -Change in arrangements that affect productivity
  2. direct positive relationship between the price of a good or service and amount suppliers are willing to produce
  3. Measures the cost of purchasing a market basket of goods at a point in time relative to the cost of purchasing the identical market basket during an earlier reference period
    (cost of bundle in current year / cost of same bundle in base year)
  4. Occurs where Money demand intersects the money supply
  5. -Consumers demand more now
    -Producers supply less now
    -People factor inflation into their long term contracts

5 True/False questions

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


  2. Higher Tax Ratesasset that will allow people to transfer purchasing power from one period to the next


  3. Supply of Loanable Fundsthe belief that changes in the marginal tax rate will exert important effects on aggregate supply


  4. Rent seekinggovernment revenue is great than government spending


  5. Marginal Propensity to Consume-ability to forecast is extremely limited
    -change in fiscal policy requires legislaive action
    -Change will not have an immediate effect on the economy