1. The short-run Phillips Curve is a curve that shows the relat.docx
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1. The short-run Phillips Curve is a curve that shows the relationship between the inflation rate and the pure interest rate when the natural rate of unemployment and the expected rate of inflation remain constant. True False 2. At higher rates of inflation, unemployment is lower in the short-run Phillips Curve; in the long run, however, inflation has no effect on unemployment. True False. 3.The Federal Funds Market is actually monitored and manipulated by the Federal Reserve, but individual investors can enter the market and borrow funds if desired. True False 4. One of the three main tools of the Federal Reserve is fiscal policy. True False 5. The Federal Reserve's Reserve Requirement ratio can reduce the monetary base and thus the money supply. True False 6. If the Federal Reserve wants to reduce interest rates and increase the velocity of money, it can utilize the open market operations tool by selling government bonds to member banks. True False 7. The use of money as a medium of exchange represents the most important service that money renders. True False 8. Keynes advocated government deficit spending during recessions, especially if full employment was not yet reached. True False 9. ommercial banks and credit unions can create money and credit. True False 10. M1 includes currency, checkable deposits, and traveler's checks, but M2 does not include M1 in any way. 11. The imposition of a tariff on foreign goods is more likely to decrease producer surplus of the domestic firms competing with those foreign firms on whom the tariff is imposed. True False 12. When an American purchases a German good or invests in Germany, Euros currency is supplied and U.S. dollars are demanded. True False 13. The main goal of the Federal Reserve is the unemployment rate. True False 14. If the economy is in long run economic equilibrium, at potential GDP, and full employment has been reached as well, if there is an outward shift in aggregate demand, we can expect damaging inflation to start to occur and the government to seek contractionary fiscal and monetary options. True False 15. If the MPC is .9, and government purchases increase by $6,000, real GDP demanded will: a. decrease by $60,000 b. decrease by $6,000 c. increase by $60,000 d. increase by $6,000 e. increase by $5,000 17. Fiscal policy consists of the executive branch's decisions to tax and spend. If the economy is in an expansionary mode just coming out of a recession, in regards to aggregate demand and aggregate supply, we can assume that a tax hike will lead to a. the economy expanding even more as a result. b. aggregate demand and supply to shift inward. c. aggregate supply to shift inward. d. aggregate demand to shift inward. e. no changes will occur. 18. The natural rate of unemployment is a. when the economy is at potential GDP. b. when the unemployment rate is at full employment. .
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Devry econ 545 week 5 quiz new
econ 545 week 5 dq 1 fiscal policy new,econ 545 week 5 dq 2 monetary policy new,econ 545 week 5 quiz 1 new,devry econ 545,econ 545,devry econ 545 week 5 tutorial,econ 545 week 5 assignment,devry econ 545 week 5 help
1. During a recession the economy experiencesa. rising employm.docx
1. During a recession the economy experiences
a.
rising employment and income.
b.
rising employment and falling income.
c.
rising income and falling employment.
d.
falling employment and income.
2. Most economists use the aggregate demand and aggregate supply model primarily to analyze
a.
short-run fluctuations in the economy.
b.
the effects of macroeconomic policy on the prices of individual goods.
c.
the long-run effects of international trade policies.
d.
productivity and economic growth.
3. The classical dichotomy refers to the separation of
a.
prices and nominal interest rates.
b.
taxes and government spending.
c.
decisions made by the public and decisions made by the government.
d.
real and nominal variables.
4. According to classical macroeconomic theory, changes in the money supply affect
a.
variables measured in terms of money and variables measured in terms of quantities or relative prices
b.
variables measured in terms of money but not variables measured in terms of quantities or relative prices
c.
variables measured in terms of quantities or relative prices, but not variables measured in terms of money
d.
neither variables measured in terms of money nor variables measured in terms of quantities or relative prices
5. Most economists believe that money neutrality
a.
does not hold in the short run.
b.
does not hold in the long run.
c.
does not hold in either the short run or long run.
d.
holds in the short run and the long run.
6. The aggregate demand and aggregate supply graph has
a.
quantity of output on the horizontal axis. Output can be measured by the GDP deflator.
b.
quantity of output on the horizontal axis. Output can be measured by real GDP.
c.
quantity of output on the vertical axis. Output can be measured by the GDP deflator.
d.
quantity of output on the vertical axis. Output can be measured by real GDP.
7. Aggregate demand includes
a.
the quantity of goods and services the government, households, firms, and customers abroad want to buy.
b.
neither the quantity of goods and services the government, households, nor firms want to buy nor the quantity of goods and services customers abroad want to buy.
c.
the quantity of goods and service the government wants to buy, but not the quantity of goods and services households, firms, or customers abroad want to buy.
d.
the quantity of goods and services households and firms want to buy, but not the quantity of goods and services the government wants to buy.
8. Other things the same, a decrease in the price level motivates people to hold
a.
less money, so they lend less, and the interest rate rises.
b.
less money, so they lend more, and the interest rate falls.
c.
more money, so they lend more, and the interest rate rises.
d.
more money, so they lend less, and the interest rate falls.
9. When the dollar depreciates, U.S.
a.
net exports rise, which increases the aggregate quantity.
MACROECONOMIC MODELS AND FISCAL POLICY1. Which one of the follow.docx
MACROECONOMIC MODELS AND FISCAL POLICY
1. Which one of the following statements best describes the idea of a political business cycle? A. Despite good intentions, various timing lags will cause fiscal policy to reinforce the business cycle.
B. Politicians will use fiscal policy to cause output, real incomes, and employment to be rising prior to elections. C. Politicians are more willing to cut taxes and increase government spending than they are to do the reverse. D. Fiscal policy will result in alternating budget deficits and surpluses.
2. In building the aggregate expenditures model, Keynes believed that
A. government intervention into the economy is the primary cause of business cycle fluctuations.
B. massive unemployment of labor and capital created conditions where sudden demand changes are unlikely to change prices. C. changes in aggregate expenditures are unable to affect the level of real output in the economy.
D. economies are normally at full employment and thus frequently susceptible to bouts of inflation.
5. Which one of the following statements correctly describes the multiplier effect?
A. The multiplier effect means that a change in consumption can cause a larger increase in investment.
B. The multiplier effect means that a decline in the MPC can cause GDP to rise by several times that amount. C. The multiplier effect means that consumption is typically several times as large as saving.
D. The multiplier effect means that an increase in investment can cause GDP to change by a larger amount.
7. The amount by which federal tax revenues exceed federal government expenditures during a particular year is the
A. public debt.
B. budget surplus. C. Federal Reserve. D. budget deficit.
9. Which one of the following statements about dissaving is correct? A. Dissaving occurs where saving exceeds consumption.
B. Dissaving occurs where consumption exceeds income.
C. Dissaving occurs where income exceeds consumption. ...
1.The tax multiplier associated with a $10B reduction in taxes i.docx
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
Recommended
Devry econ 545 week 5 quiz new
econ 545 week 5 dq 1 fiscal policy new,econ 545 week 5 dq 2 monetary policy new,econ 545 week 5 quiz 1 new,devry econ 545,econ 545,devry econ 545 week 5 tutorial,econ 545 week 5 assignment,devry econ 545 week 5 help
1. During a recession the economy experiencesa. rising employm.docx
1. During a recession the economy experiences
a.
rising employment and income.
b.
rising employment and falling income.
c.
rising income and falling employment.
d.
falling employment and income.
2. Most economists use the aggregate demand and aggregate supply model primarily to analyze
a.
short-run fluctuations in the economy.
b.
the effects of macroeconomic policy on the prices of individual goods.
c.
the long-run effects of international trade policies.
d.
productivity and economic growth.
3. The classical dichotomy refers to the separation of
a.
prices and nominal interest rates.
b.
taxes and government spending.
c.
decisions made by the public and decisions made by the government.
d.
real and nominal variables.
4. According to classical macroeconomic theory, changes in the money supply affect
a.
variables measured in terms of money and variables measured in terms of quantities or relative prices
b.
variables measured in terms of money but not variables measured in terms of quantities or relative prices
c.
variables measured in terms of quantities or relative prices, but not variables measured in terms of money
d.
neither variables measured in terms of money nor variables measured in terms of quantities or relative prices
5. Most economists believe that money neutrality
a.
does not hold in the short run.
b.
does not hold in the long run.
c.
does not hold in either the short run or long run.
d.
holds in the short run and the long run.
6. The aggregate demand and aggregate supply graph has
a.
quantity of output on the horizontal axis. Output can be measured by the GDP deflator.
b.
quantity of output on the horizontal axis. Output can be measured by real GDP.
c.
quantity of output on the vertical axis. Output can be measured by the GDP deflator.
d.
quantity of output on the vertical axis. Output can be measured by real GDP.
7. Aggregate demand includes
a.
the quantity of goods and services the government, households, firms, and customers abroad want to buy.
b.
neither the quantity of goods and services the government, households, nor firms want to buy nor the quantity of goods and services customers abroad want to buy.
c.
the quantity of goods and service the government wants to buy, but not the quantity of goods and services households, firms, or customers abroad want to buy.
d.
the quantity of goods and services households and firms want to buy, but not the quantity of goods and services the government wants to buy.
8. Other things the same, a decrease in the price level motivates people to hold
a.
less money, so they lend less, and the interest rate rises.
b.
less money, so they lend more, and the interest rate falls.
c.
more money, so they lend more, and the interest rate rises.
d.
more money, so they lend less, and the interest rate falls.
9. When the dollar depreciates, U.S.
a.
net exports rise, which increases the aggregate quantity.
MACROECONOMIC MODELS AND FISCAL POLICY1. Which one of the follow.docx
MACROECONOMIC MODELS AND FISCAL POLICY
1. Which one of the following statements best describes the idea of a political business cycle? A. Despite good intentions, various timing lags will cause fiscal policy to reinforce the business cycle.
B. Politicians will use fiscal policy to cause output, real incomes, and employment to be rising prior to elections. C. Politicians are more willing to cut taxes and increase government spending than they are to do the reverse. D. Fiscal policy will result in alternating budget deficits and surpluses.
2. In building the aggregate expenditures model, Keynes believed that
A. government intervention into the economy is the primary cause of business cycle fluctuations.
B. massive unemployment of labor and capital created conditions where sudden demand changes are unlikely to change prices. C. changes in aggregate expenditures are unable to affect the level of real output in the economy.
D. economies are normally at full employment and thus frequently susceptible to bouts of inflation.
5. Which one of the following statements correctly describes the multiplier effect?
A. The multiplier effect means that a change in consumption can cause a larger increase in investment.
B. The multiplier effect means that a decline in the MPC can cause GDP to rise by several times that amount. C. The multiplier effect means that consumption is typically several times as large as saving.
D. The multiplier effect means that an increase in investment can cause GDP to change by a larger amount.
7. The amount by which federal tax revenues exceed federal government expenditures during a particular year is the
A. public debt.
B. budget surplus. C. Federal Reserve. D. budget deficit.
9. Which one of the following statements about dissaving is correct? A. Dissaving occurs where saving exceeds consumption.
B. Dissaving occurs where consumption exceeds income.
C. Dissaving occurs where income exceeds consumption. ...
1.The tax multiplier associated with a $10B reduction in taxes i.docx
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
Measures to control inflation
here are some of the measures that are taken by banks as well as goverment to control inflation
1.The tax multiplier associated with a $10B reduction in t.docx
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
the ppt of this chapter is in attachmentChapter 17 End of Ch.docx
the ppt of this chapter is in attachment
Chapter 17 End of Chapter Quiz
1. Suppose that firms in Boversia gain confidence in the economy, so domestic investment rises for any given interest rate. For now, assume that net capital outflows don’t change. What happens to output and the real exchange rate when the Boversian central bank holds the real interest rate constant? (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct
2. Suppose again that investment rises in Boversia. In this case, assume that higher confidence in the economy also causes a decrease in net capital outflows. What happens to output and the real exchange rate when the Boversian central bank holds the real interest constant. (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct.
3. Consider the scenario in Figure 17.4: a rise in confidence causes a fall in net capital outflows, and the central bank adjusts the interest rate to keep the exchange rate constant. For this case, what happens to consumption and investment.
A. C increases, I increases.
B. C increases, I is constant.
C. C is constant, I decreases.
D. C is constant, I is constant.
4. Suppose government spending rises in Boversia, shifting the AE curve outward. The central bank would like to keep both output and the real exchange rate constant. How can policymakers accomplish these goals through a combination of an interest-rate adjustment and capital controls.
A. The central bank has to increase the real interest rate and prevent capital outflows.
B. The central bank has to increase the real interest rate and prevent capital inflows.
C. The central bank has to decrease the real interest rate and prevent capital outflows.
D. The central bank cannot achieve the two goals simultaneously.
5. Compare two statements about exchange rates by former Treasury Secretary Henry Paulson, both from 2007: (1) “A strong dollar is in our nation’s interest.” (2) “The currency [China’s yuan] needs to appreciate, and it needs to appreciate faster.” Are the two statements consistent with one another?
A. The two statements are consistent because both imply a yuan appreciation.
B. The two statements are consistent because both imply a dollar depreciation.
C. The two statements are not consistent.
D. There is not enough information to judge the consistency of the two statements.
6. What is the difference between an appreciation and a revaluation of a currency?
A. Appreciation implies th.
DB27 Economic Policy Challenging IncrementalismIncremental and.docx
DB2
7 Economic Policy Challenging Incrementalism
Incremental and Nonincremental Policymaking
Traditionally, fiscal and monetary policies were made incrementally; that is, decision makers concentrated their attention on modest changes—increases or decreases—in existing taxing, spending, and deficit levels, as well as the money supply and interest rates. Incrementalism was especially pervasive in annual federal budget making. The president and Congress did not reconsider the value of all existing programs each year, or pay much attention to previously established expenditure levels. Rather last year’s expenditures were considered as a base of spending for each program, attractive consideration of the budget proposals focused on new items or increases over last year’s base.
But crises often force policymakers to abandon incrementalism and reach out in non-incremental directions. In economic policy, the president and Congress and the Fed are pressured to “do something” in the face of a perceived economic crisis, even if there is little consensus on what should be done, or even whether there is anything the federal government can do to resolve the crisis. As we shall see later in this chapter, the recession that began in 2008 caused policymakers to search for new policies and make dramatic changes in spending and deficit levels and to undertake unprecedented measures to prevent the collapse of financial markets and avoid a deep recession.
Fiscal and Monetary Policy
Economic policy is exercised primarily through the federal government’s fiscal policies—decisions about taxing, spending, and deficit levels—and its monetary policies—decisions about the money supply and interest rates.
Fiscal policy is made in the annual preparation of the federal budget by the president and the Office of Management and Budget, and subsequently considered by Congress in its annual appropriations bills and revisions of the tax laws. These decisions determine overall federal spending levels, as well as spending priorities among federal programs. Together with tax policy decisions (see Chapter 8), these spending decisions determine the size of the federal government’s annual deficits or surpluses.
Monetary policy is the principal responsibility of the powerful and independent Federal Reserve Board—“the Fed”—which can expand or contract the money supply through its oversight of the nation’s banking system (see “The Fed at Work” later in this chapter). Congress established the Federal Reserve System and its governing Board in 1913 and Congress could, if it wished, reduce its power or even abolish the Fed altogether. But no serious effort has ever been undertaken to do so.
Economic Theories As Policy Guides
The goals of economic policy are widely shared: growth in economic output and standards of living, full and productive employment of the nation’s work force, and stable prices with low inflation. But a variety of economic theories compete for preeminence as ways of achiev.
1.Does BPH predispose this patient to cancer2. Why are pati.docx
1.Does BPH predispose this patient to cancer?
2. Why are patients with BPH at increased risk for urinary tract infections?
3. What would you expect the patient’s PSA level to be after surgery?
4. What is the recommended screening guidelines and treatment for BPH?
5. What are some alternative treatments / natural homeopathic options for treatment?
.
1.Do you think that mass media mostly reflects musical taste, or.docx
1.
Do you think that mass media mostly reflects musical taste, or does it play a major role in shaping musical taste? Do you feel that today’s music industry enhances or interferes with the relationship between the artist and their audience?
2.
Think of a song or piece of music that has been a part of your life for a long time and expresses your musical identity. Has the significance or “meaning” of that song changed over the years? If so, what has changed in your perception of the song, and what factors in your life - personal, cultural, or other – might have contributed?
The book is music of th peoples of the world
.
More Related Content
Similar to 1. The short-run Phillips Curve is a curve that shows the relat.docx
Measures to control inflation
here are some of the measures that are taken by banks as well as goverment to control inflation
1.The tax multiplier associated with a $10B reduction in t.docx
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
the ppt of this chapter is in attachmentChapter 17 End of Ch.docx
the ppt of this chapter is in attachment
Chapter 17 End of Chapter Quiz
1. Suppose that firms in Boversia gain confidence in the economy, so domestic investment rises for any given interest rate. For now, assume that net capital outflows don’t change. What happens to output and the real exchange rate when the Boversian central bank holds the real interest rate constant? (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct
2. Suppose again that investment rises in Boversia. In this case, assume that higher confidence in the economy also causes a decrease in net capital outflows. What happens to output and the real exchange rate when the Boversian central bank holds the real interest constant. (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct.
3. Consider the scenario in Figure 17.4: a rise in confidence causes a fall in net capital outflows, and the central bank adjusts the interest rate to keep the exchange rate constant. For this case, what happens to consumption and investment.
A. C increases, I increases.
B. C increases, I is constant.
C. C is constant, I decreases.
D. C is constant, I is constant.
4. Suppose government spending rises in Boversia, shifting the AE curve outward. The central bank would like to keep both output and the real exchange rate constant. How can policymakers accomplish these goals through a combination of an interest-rate adjustment and capital controls.
A. The central bank has to increase the real interest rate and prevent capital outflows.
B. The central bank has to increase the real interest rate and prevent capital inflows.
C. The central bank has to decrease the real interest rate and prevent capital outflows.
D. The central bank cannot achieve the two goals simultaneously.
5. Compare two statements about exchange rates by former Treasury Secretary Henry Paulson, both from 2007: (1) “A strong dollar is in our nation’s interest.” (2) “The currency [China’s yuan] needs to appreciate, and it needs to appreciate faster.” Are the two statements consistent with one another?
A. The two statements are consistent because both imply a yuan appreciation.
B. The two statements are consistent because both imply a dollar depreciation.
C. The two statements are not consistent.
D. There is not enough information to judge the consistency of the two statements.
6. What is the difference between an appreciation and a revaluation of a currency?
A. Appreciation implies th.
DB27 Economic Policy Challenging IncrementalismIncremental and.docx
DB2
7 Economic Policy Challenging Incrementalism
Incremental and Nonincremental Policymaking
Traditionally, fiscal and monetary policies were made incrementally; that is, decision makers concentrated their attention on modest changes—increases or decreases—in existing taxing, spending, and deficit levels, as well as the money supply and interest rates. Incrementalism was especially pervasive in annual federal budget making. The president and Congress did not reconsider the value of all existing programs each year, or pay much attention to previously established expenditure levels. Rather last year’s expenditures were considered as a base of spending for each program, attractive consideration of the budget proposals focused on new items or increases over last year’s base.
But crises often force policymakers to abandon incrementalism and reach out in non-incremental directions. In economic policy, the president and Congress and the Fed are pressured to “do something” in the face of a perceived economic crisis, even if there is little consensus on what should be done, or even whether there is anything the federal government can do to resolve the crisis. As we shall see later in this chapter, the recession that began in 2008 caused policymakers to search for new policies and make dramatic changes in spending and deficit levels and to undertake unprecedented measures to prevent the collapse of financial markets and avoid a deep recession.
Fiscal and Monetary Policy
Economic policy is exercised primarily through the federal government’s fiscal policies—decisions about taxing, spending, and deficit levels—and its monetary policies—decisions about the money supply and interest rates.
Fiscal policy is made in the annual preparation of the federal budget by the president and the Office of Management and Budget, and subsequently considered by Congress in its annual appropriations bills and revisions of the tax laws. These decisions determine overall federal spending levels, as well as spending priorities among federal programs. Together with tax policy decisions (see Chapter 8), these spending decisions determine the size of the federal government’s annual deficits or surpluses.
Monetary policy is the principal responsibility of the powerful and independent Federal Reserve Board—“the Fed”—which can expand or contract the money supply through its oversight of the nation’s banking system (see “The Fed at Work” later in this chapter). Congress established the Federal Reserve System and its governing Board in 1913 and Congress could, if it wished, reduce its power or even abolish the Fed altogether. But no serious effort has ever been undertaken to do so.
Economic Theories As Policy Guides
The goals of economic policy are widely shared: growth in economic output and standards of living, full and productive employment of the nation’s work force, and stable prices with low inflation. But a variety of economic theories compete for preeminence as ways of achiev.
Similar to 1. The short-run Phillips Curve is a curve that shows the relat.docx (20)
1.The tax multiplier associated with a $10B reduction in t.docx
1.The tax multiplier associated with a $10B reduction in t.docx
Monetary and fiscal policy response and recent developments
Monetary and fiscal policy response and recent developments
the ppt of this chapter is in attachmentChapter 17 End of Ch.docx
the ppt of this chapter is in attachmentChapter 17 End of Ch.docx
DB27 Economic Policy Challenging IncrementalismIncremental and.docx
DB27 Economic Policy Challenging IncrementalismIncremental and.docx
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1.Discuss theoretical and conceptual frameworks. How are the.docx
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Discuss theoretical and conceptual frameworks. How are they used and how do they support the use of quantitative methods?
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List, define, and discuss all threats associated with internal and external validity in quantitative designs. Also, list mechanisms for dealing with the threats and enhancing study validity.
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Nursing Paradigm represent a world view and general perspective on the complexities of the real world. The disciplined inquiry in the field of nursing is being conducted through several paradigms.
Discuss your point of view to one paradigm? Explore the aspects of the paradigms that are especially consistent with your view.
need the answer with APA style
references and citation
one of our book references :
Nursing Research- Appraising Evidence for Nursing Practice, 8th Edition by Denise F. Polit, Cheryl Tatano Beck
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Some critics have suggested that rehabilitation cannot work, because so many prison inmates never were habilitated to begin with. What is your reaction to this viewpoint? Explain your answer.
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What are some of the fundamental assumptions of career criminal programs? What limitations might these assumptions present in our efforts to identify and punish career criminals?
THE BOOK IS Essentials of Corrections Fourth Edition
G. Larry Mays | L. Thomas Winfree Jr.
and four scholarly sources
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Reading: David Chidester and Edward T. Linenthal (file uploaded)
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https://www.esecurityplanet.com/malware/malware-types.html#maliciousmobileapp
Post must be between 250-300 words
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Using the following link as your reference, select TWO and explain the differences
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Post must be between 250-300 words
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Describe two cryptographic applications and how they are used in Information System Security.
Post must be between 250-300 words
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*Short APA Word Format Attached (5 points)
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A 52-year-old obese Caucasian male presents to the clinic with a 2-day history of fever, chills, and right great toe pain that has gotten worse. Patient states this is the first time that this has happened, and nothing has made it better and walking on his right foot makes it worse. He has tried acetaminophen, but it did not help. He took several ibuprofen tablets last night which did give him a bit of relief. Past medical history positive or hypertension treated with hydrochlorothiazide and kidney stones. Social history negative for tobacco use but admits to drinking “a fair amount of red wine” every week. General appearance: Ill appearing male who sits with his right foot elevated. Physical exam remarkable for a temp of 101.2, pulse 108, respirations 18 and BP 160/88. Right great toe (first metatarsal phalangeal [MTP]) noticeably swollen and red. Unable to palpate to assess range of motion due to extreme pain. CBC and Complete metabolic profile revealed WBC 14,000 mm3 and uric acid 8.9 mg/dl. The APRN diagnoses the patient with acute gout.
Question 1 of 2:
Describe the pathophysiology of gout.
QUESTION 2
1. A 52-year-old obese Caucasian male presents to the clinic with a 2-day history of fever, chills, and right great toe pain that has gotten worse. Patient states this is the first time that this has happened, and nothing has made it better and walking on his right foot makes it worse. He has tried acetaminophen, but it did not help. He took several ibuprofen tablets last night which did give him a bit of relief. Past medical history positive or hypertension treated with hydrochlorothiazide and kidney stones. Social history negative for tobacco use but admits to drinking “a fair amount of red wine” every week. General appearance: Ill appearing male who sits with his right foot elevated. Physical exam remarkable for a temp of 101.2, pulse 108, respirations 18 and BP 160/88. Right great toe (first metatarsal phalangeal [MTP]) noticeably swollen and red. Unable to palpate to assess range of motion due to extreme pain. CBC and Complete metabolic profile revealed WBC 14,000 mm3 and uric acid 8.9 mg/dl. The APRN diagnoses the patient with acute gout.
Question 2 of 2:
Explain why a patient with gout is more likely to develop renal calculi. 1 points
QUESTION 3
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1.1Arguments, Premises, and ConclusionsHow Logical Are You·.docx
1.1Arguments, Premises, and Conclusions
How Logical Are You?
· After a momentary absence, you return to your table in the library only to find your smartphone is missing. It was there just minutes earlier. You suspect the student sitting next to you took it. After all, she has a guilty look. Also, there is a bulge in her backpack about the size of your phone, and one of the pouches has a loose strap. Then you hear a “ring” come from the backpack—and it’s the same ringtone that you use on your phone. Which of these pieces of evidence best supports your suspicion?
Answer
The best evidence is undoubtedly the “ring” you hear coming from her backpack, which is the same ringtone as the one on your phone. The weakest evidence is probably the “guilty look.” After all, what, exactly, is a guilty look? The bulge in the backpack and the loose strap are of medium value. The loose strap supports the hypothesis that something was quickly inserted into the backpack. In this section of the chapter you will learn that evidentiary statements form the premises of arguments.
Logic may be defined as the organized body of knowledge, or science, that evaluates arguments. All of us encounter arguments in our day-to-day experience. We read them in books and newspapers, hear them on television, and formulate them when communicating with friends and associates. The aim of logic is to develop a system of methods and principles that we may use as criteria for evaluating the arguments of others and as guides in constructing arguments of our own. Among the benefits to be expected from the study of logic is an increase in confidence that we are making sense when we criticize the arguments of others and when we advance arguments of our own.
An argument, in its simplest form, is a group of statements, one or more of which (the premises) are claimed to provide support for, or reasons to believe, one of the others (the conclusion). Every argument may be placed in either of two basic groups: those in which the premises really do support the conclusion and those in which they do not, even though they are claimed to. The former are said to be good arguments (at least to that extent), the latter bad arguments. The purpose of logic, as the science that evaluates arguments, is thus to develop methods and techniques that allow us to distinguish good arguments from bad.
As is apparent from the given definition, the term argument has a very specific meaning in logic. It does not mean, for example, a mere verbal fight, as one might have with one’s parent, spouse, or friend. Let us examine the features of this definition in greater detail. First of all, an argument is a group of statements. A statement is a sentence that is either true or false—in other words, typically a declarative sentence or a sentence component that could stand as a declarative sentence. The following sentences are statements:
Chocolate truffles are loaded with calories.
Melatonin helps relieve jet lag.
Political can.
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1.4 Participate in health care policy development to influence nursing practice and health care.
Research public health issues on the "Climate Change" or "Topics and Issues" pages of the American Public Health Association (APHA) website. Investigate a public health issue related to an environmental issue within the U.S. health care delivery system and examine its effect on a specific population.
Write a 750-1,000-word policy brief that summarizes the issue, explains the effect on the population, and proposes a solution to the issue.
Follow this outline when writing the policy brief:
Describe the policy health issue. Include the following information: (a) what population is affected, (b) at what level does it occur (local, state, or national), and (c) evidence about the issues supported by resources.
Create a problem statement.
Provide suggestions for addressing the health issue caused by the current policy. Describe what steps are required to initiate policy change. Include necessary stakeholders (government officials, administrator) and budget or funding considerations, if applicable.
Discuss the impact on the health care delivery system.
Include three peer-reviewed sources and two other sources to support the policy brief.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
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Cite sources according to your preference style (footnote/endnotes or in-text parenthetical citations with author last names and page numbers for academic direct quotes). Question to answer: how is statelessness related to refugeeness? How are they similar or different? Make an argument that can tie those things together. Be more specific than general (don’t just say they are both discriminated and ignored groups, show or describe to me how is works). How are they both global/local issues? Basically, people think they know who or what global refugees/stateless people are.
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1.5 Pages on the following topics: Diversity, Race and Gender Equity
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1.0. Introduction Effective project management is consid.docx
1.0. Introduction
Effective project management is considered an essential part of a company’s way to
success, as, to put it simply, its main purpose is to predict any risk that might affect a
project of a company and prepare the latter for it (Lock, 2013).
Since 2010, Netflix, world-leading subscription video on-demand streaming service,
has been producing its own content, such as series and full-length movies (Netflix,
2019). Such Original series or films could be considered as separate projects, which
are now the key to attracting new audiences and keeping existing Netflix subscribers
(Schomer, 2018). Therefore, it is critical for Netflix to make sure that all these projects
are carefully planned and are executed in a way as smooth as possible.
The aim of this report is to analyse the project management process of “Bird Box”, the
most successful Netflix movie project by far, thus gaining useful transferable
knowledge and providing recommendations for future similar projects.
1.1. Project Background
“Bird Box” is a 2018 movie produced by Netflix, which makes the film a so-called Netflix
Original, meaning it is available only on Netflix (Netflix, 2019; Netflix Media Center,
2019).
“Bird Box” is a sci-fi psychological drama thriller, which tells a story of a woman and
two children trying to survive in an apocalyptic world (Netflix, 2019). It premiered on
21st December 2018 (Netflix Media Center, 2019).
The movie is based on the eponymous novel by Josh Malerman, published in 2014
(Slauer, 2018).
Leading role in the film is performed by Sandra Bullock with the director being Susanne
Bier – both Academy Awards® winners (Netflix Media Center, 2019).
“Bird Box” became the most successful Netflix Original movie so far. Although it was
not highly appraised by critics, it generated significant amount of conversations and
feedback in social media and is the most watched Netflix Original movie at the moment
of writing (Lee, 2019).
Page 2 of 22
2.0. Project Management Landscape
According to Wysocki (2014), “a project is a sequence of unique, complex, and
connected activities that have one goal or purpose and that must be completed by a
specific time, within budget, and according to specification”. Following from this
definition, every project should have a goal and a solution.
Regarding goal, Netflix creates its own movies and series as a part of its vertical
integration strategy. Indeed, replacing licensed content with its own not only eliminates
the cost Netflix would otherwise have spent on licensing but also helps make the
service unique, thus keeping existing subscribers and attracting new ones (Ball, 2013).
Therefore, it could be stated that the goal of “Bird Box” is to support Netflix’s “worth-
to-watch, unique content” strategy and encourage more subscriptions to the service
(Nicolaou, 2019).
As for solution, firstly, the movie is based on a novel, which has alr.
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1.3 List and briefly define categories of passive and active security attacks.
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1.5 List and briefly define categories of security mechanisms.
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Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Instructions for Submissions thorugh G- Classroom.pptx
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Thesis Statement for students diagnonsed withADHD.ppt
Presentation required for the master in Education.
The approach at University of Liverpool.pptx
How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
The French Revolution Class 9 Study Material pdf free download
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
678020731-Sumas-y-Restas-Para-Colorear.pdf
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Overview on Edible Vaccine: Pros & Cons with Mechanism
This ppt include the description of the edible vaccine i.e. a new concept over the traditional vaccine administered by injection.
2024.06.01 Introducing a competency framework for languag learning materials ...
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Digital Tools and AI for Teaching Learning and Research
This Presentation in details discusses on Digital Tools and AI for Teaching Learning and Research
1.4 modern child centered education - mahatma gandhi-2.pptx
Child centred education is an educational approach that priorities the interest, needs and abilities of the child in the learning process.
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Answers to Home assignment on UV-Visible spectroscopy: Calculation of wavelength of UV-Visible absorption
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How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
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1. The short-run Phillips Curve is a curve that shows the relat.docx
- 1. 1. The short-run Phillips Curve is a curve that shows the relationship between the inflation rate and the pure interest rate when the natural rate of unemployment and the expected rate of inflation remain constant. True False 2. At higher rates of inflation, unemployment is lower in the short- run Phillips Curve; in the long run, however, inflation has no effect on unemployment. True False. 3.The Federal Funds Market is actually monitored and manipulated by the Federal Reserve, but individual investors can enter the market and borrow funds if desired. True False 4. One of the three main tools of the Federal Reserve is fiscal policy. True
- 2. False 5. The Federal Reserve's Reserve Requirement ratio can reduce the monetary base and thus the money supply. True False 6. If the Federal Reserve wants to reduce interest rates and increase the velocity of money, it can utilize the open market operations tool by selling government bonds to member banks. True False 7. The use of money as a medium of exchange represents the most important service that money renders. True False 8. Keynes advocated government deficit spending during recessions, especially if full employment was not yet reached.
- 3. True False 9. ommercial banks and credit unions can create money and credit. True False 10. M1 includes currency, checkable deposits, and traveler's checks, but M2 does not include M1 in any way. 11. The imposition of a tariff on foreign goods is more likely to decrease producer surplus of the domestic firms competing with those foreign firms on whom the tariff is imposed. True False 12. When an American purchases a German good or invests in Germany, Euros currency is supplied and U.S. dollars are demanded. True False 13.
- 4. The main goal of the Federal Reserve is the unemployment rate. True False 14. If the economy is in long run economic equilibrium, at potential GDP, and full employment has been reached as well, if there is an outward shift in aggregate demand, we can expect damaging inflation to start to occur and the government to seek contractionary fiscal and monetary options. True False 15. If the MPC is .9, and government purchases increase by $6,000, real GDP demanded will: a. decrease by $60,000 b. decrease by $6,000 c.
- 5. increase by $60,000 d. increase by $6,000 e. increase by $5,000 17. Fiscal policy consists of the executive branch's decisions to tax and spend. If the economy is in an expansionary mode just coming out of a recession, in regards to aggregate demand and aggregate supply, we can assume that a tax hike will lead to a. the economy expanding even more as a result. b. aggregate demand and supply to shift inward. c. aggregate supply to shift inward. d. aggregate demand to shift inward. e.
- 6. no changes will occur. 18. The natural rate of unemployment is a. when the economy is at potential GDP. b. when the unemployment rate is at full employment. c. when there is no cyclical unemployment. d. all of the above. e. only a and b. 19. According to Keynes, a. aggregate demand is most important to achieve potential output.
- 7. b. the government should not utilize fiscal policy to influence economic activity. c. government spending should decrease during recessions. d. aggregate supply is most important to achieve potential output. 20. A government tariff will result in a. deadweight losses. b. higher prices for the goods imposed by a tariff. c. less output for that good. d. reduced consumer surplus. e.
- 8. all of the above. 21. During a recession, the government can help the economy by a. decreasing taxes. b. buying government bonds back from member banks. c. increasing government spending. d. a and b only. e. b and c only. f. a, b, and c. 22. The 1970's period of stagflation involved
- 9. a. relatively high unemployment. b. relatively high inflation. c. relatively low economic growth. d. high economic expansion. e. a, b, and c. 23. The proliferation of trade in recent decades has led to a. increased competition. b. deflationary pressures on prices on goods and services. c. less developed nations to improve their inhabitants' standards of
- 10. living. d. once socialist nations to become more market oriented. e. all of the above. 24. If the economy is in a recession due to aggregate demand shifting inward and the economy is contracting, if aggregate demand doesn't improve, we can expect the short-run aggregate supply curve to a. shift inward. b. shift outward but real GDP will be unchanged. c. will remain unchanged. d. become the long-run aggregate supply curve. 25.
- 11. In the long run, the price level is determined by a. the aggregate demand curve being perfectly vertical. b. the short-run aggregate supply curve and long-run aggregate supply curve being the same. c. short-run aggregate supply curve. d. the aggregate demand curve