1. A. is highly susceptible to recessions and high unemployment. B. is capable o
ID: 1208067 • Letter: 1
Question
1.
A. is highly susceptible to recessions and high unemployment.
B. is capable of always producing at its optimal capacity.
C.can only lessen the impacts of business cycles through active government policy.
D. faces regularly fluctuating output levels in response to demand shocks.
2.
$300.
$326.
$307.
$282.
3.
$14.
$23.
$32.
$26.
4.
$530.
$580.
$561.
$573.
5.
A. declining nominal GDP.
B. declining real GDP.
C. rising price level.
D. rising real GDP.
6.
A. population growth reduced Alta's real GDP growth to zero.
B. population fell in Alta.
C. Alta's real GDP grew more rapidly than Zorn's real GDP.
D. real GDP fell in Zorn.
7.
A. shift curve CD to AB.
B. shift curve AB to CD.
C. move the economy away from point B and toward point A.
D. move the economy away from point A and toward point B.
8.
A .2.
B .4.
C .3.
D .8.
9.
A .75.
B .20.
C .25.
D .80.
10.
A. $30 billion of investment will be undertaken.
B. $60 billion of investment will be undertaken.
C. $30 billion will be both saved and invested.
D. we cannot tell what volume of investment will be profitable.
11.
A. Countries B and C.
B. Country C only.
C. Countries B, C, and D.
D. Countries B, C, D, and E.
Explanation / Answer
1.
D. faces regularly fluctuating output levels in response to demand shocks.
Deman is quite volatile with changes in prices that will result in changes in output
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