Depariment of Ecosomies Usiversity of Maarssetto ostu Fall 2017 Final Esam PART

Question

Depariment of Ecosomies Usiversity of Maarssetto ostu Fall 2017 Final Esam PART 1 (80 Points) MULTIPLE CHOICE Choose the one altermative that best completes the statement or answene 1) A decresse in govenment spending on the park system would o A) a mevement up and to the let along the gate demand eurve the aggmgate demand cerve C) the aggregate demand corve to shit to the right D) the aapegate demand curve to shii to the lefi s called B) D) a leading variable C) acyclical 3) Acconding to Keynesian macroeconomists prices djust to shocks, so the government 3 should A) slowly, Right recesions C) rapidly; do lale D) slowly, do lie 4) axia, the B) in vertical D) slopes upward C) is horizontal 5) Which of the following changes shifts the SRAS curve down? s) A) A decrease in government purchase C) A decrease in Erme costs 8) An increase in the money supply D) An increase in the labor force 6) The fact that the long-run Phillips curve is vertical implies that 6) 8) money is neutral in the long run. C) money can't affect indlation in the long run D) there is a natural rate of inflation ) The IS curve shows the combinations of output and the real interest rate for which A) the financial asset market is in equilibrium B) the labor market is in equilibrium C) an increase in output will cause the market-clearing interest rate to be bid up D) the goods market is in equillbrium

Explanation / Answer

1.Ans: D the aggregate demand curve to shift to the left.

2.Ans: C. acyclical

3.Ans: A. slowly, fight recession.

4.Anns: B. is vertical

5.Ans:C. a decrease in firm's cost.

6.Ans: B. money is neutral in long run.

7.Ans: D googs market is equilibrium

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