April 18, 2015

Homework Help: Economics

Posted by muneebah on Tuesday, August 15, 2006 at 3:06am.

select the correct answer out of all the possQuestion 1 (1.00 points)

Question one
The natural rate of unemployment is:

a. higher than the full-employment rate of unemployment.

b. lower than the full-employment rate of unemployment.

c. that rate of unemployment occurring when the economy is at its potential output.

d. found by dividing total unemployment by the size of the labor force.

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Question 2 (1.00 points)

The aggregate supply curve (short-run):

a. graphs as a horizontal line.

b. is steeper above the full-employment output than below it.

c. slopes downward and to the right.

d. presumes that changes in wages and other resource prices match changes in the price level.

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Question 3 (1.00 points)

The aggregate supply curve:

a. is explained by the interest rate, real-balances, and foreign purchases effects.

b. gets steeper as the economy moves from the top of the curve to the bottom of the curve.

c. shows the various amounts of real output that businesses will produce at each price level.

d. is downsloping because real purchasing power increases as the price level falls.

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Question 4 (1.00 points)

Reference: F11085

In the above figure AD1 and AS1 represent the original aggregate supply and demand curves and AD2 and AS2 show the new aggregate demand and supply curves. The changes in aggregate demand and supply in the above diagram produce:

a. a higher price level.

b. an expansion of real output and a stable price level.

c. an expansion of real output and a higher price level.

d. a decline in real output and a stable price level.

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Question 5 (1.00 points)

The economy's long-run AS curve assumes that wages and other resource prices:

a. eventually rise and fall to match upward or downward changes in the price level.

b. are flexible upward but inflexible downward.

c. rise and fall more rapidly than the price level.

d. are relatively inflexible both upward and downward.

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Question 6 (1.00 points)

Reference: F11088

Refer to the above diagram. If the initial aggregate demand and supply curves are AD0 and AS0, the equilibrium price level and level of real domestic output will be:

a. F and C, respectively.

b. G and B, respectively.

c. F and A, respectively.

d. E and B, respectively.

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Question 7 (1.00 points)

Reference: F11061

Refer to the above diagrams, in which AD1 and AS1 are the "before" curves and AD2 and AS2 are the "after" curves. Other things equal, inflation is absent in:

a. panel (A) only.

b. panel (B) only.

c. panel (C) only

d. panels (A) and (C).

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Question 8 (1.00 points)

If aggregate demand decreases, and as a result, real output and employment decline but the price level remains unchanged, we can assume that:

a. the money supply has declined.

b. the price level is inflexible downward and a recession has occurred.

c. cost-push inflation has occurred.

d. productivity has declined.

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Question 9 (1.00 points)

Reference: F11123

Refer to the above diagram. At the equilibrium price and quantity:

a. aggregate demand exceeds aggregate supply.

b. the amount of real output demanded and supplied are equal.

c. aggregate demand equals aggregate supply.

d. aggregate supply exceeds aggregate demand.

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Question 10 (1.00 points)

The equilibrium price level and level of real output occur where:

a. real output is at its highest possible level.

b. export equal imports.

c. the price level is at its lowest level.

d. the aggregate demand and supply curves intersect.

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ibilities, for each question:

First, I cant easily provide help on those questions that start with "refer to the the above diagram", or similar words to that effect.
Second, we (the Jiskha volunteers) would rather help to guide your thinking, rather than do the problems for you, or simply give you the answers. So, take a shot. (That said, for free, the answer to the first problem is c.)

The equilibrium price level and level of real output occur where:




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