If the price level rises and the money wage rate remains constant, the quantity of real GDP supplied ________ and there is a movement along the _______ aggregate supply curve.
ECON1022 - Chapter 10

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Social Studies
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University
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Medium

Phuong Vu
Used 6+ times
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
increases; short-run
increases; long-run
does not change; short-run
does not change; long-run
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements illustrate fiscal policy?
The Bank of Canada has increased its reserve requirement.
The Government of Canada has proposed a hike in the corporate tax rate.
A stronger dollar has lowered Canadian exports.
A rise in the expected future profits has increased Canadian investments.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following economies is facing a stagflation?
The European economy is experiencing a decrease in real GDP for three quarters and a rise in the price level
The Chinese economy is facing a rising labour cost.
The Bank of Canada is purchasing government securities to lower the interest rate.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Toyota and Honda build additional plants in Canada. This event ________short-run aggregate supply and _______ long-run aggregate supply.
increase; does not change
does not change; does not change
does not change; increases
increases; increases
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Long-run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when real GDP equals potential GDP
TRUE
FALSE
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