ECN 151 Exam 3 SP23

ECN 151 Exam 3 SP23

University

19 Qs

quiz-placeholder

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ECN 151 Exam 3 SP23

ECN 151 Exam 3 SP23

Assessment

Quiz

Specialty

University

Medium

Created by

Ashleigh Gray

Used 18+ times

FREE Resource

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be most likely to cause an increase in current aggregate demand in the United States?

A recession in Canada, Mexico, and Western Europe

An increase in the real interest rate

Sharp increase in the value of stocks owned by Americans

Increased fear that the US economy was going into a recession

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be most likely to cause an increase in current aggregate demand in the United States?

A recession in Canada, Mexico, and Western Europe

An increase in the real interest rate

Sharp increase in the value of stocks owned by Americans

Increased fear that the US economy was going into a recession

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following will most likely accompany an unanticipated increase in aggregate demand?

A decrease in real GDP

An increase in real output

An increase in unemployment

A decrease in the demand for resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following will most likely result from an unanticipated decrease in aggregate supply due to unfavorable weather conditions in agricultural areas?

An increase in the natural rate of unemployment

An increase in the general level of prices

A decrease in unemployment

A decrease in inflation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the long-run aggregate supply curve indicates that

Potential real GDP has increased

The natural rate of unemployment has increased

The general level of prices has increased

Unemployment has increased

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When output is less than the economy’s long-run capacity, which of the following is most likely to occur?

A sharp increase in imports

An abnormally low rate of unemployment

A government budget surplus

Reductions in real interest rates and resource prices

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would a Keynesian economist be most likely to stress?

You cannot spend your way out of a recession

Supply creates its own demand

When the unemployment rate is high, wages will fall

Businesses will not produce goods and services if they do not think people will buy them.

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