1. Frictional unemployment might be_______. (Points: 1) good sincethat means peo
ID: 1239767 • Letter: 1
Question
1. Frictional unemployment might be_______. (Points: 1)good sincethat means people may be seeking jobs that match their jobskills
good becausepeople learn how other folks live
bad becausepeople are not getting a paycheck
bad becausepeople are out of work
2. Deviations from the natural rate ofunemployment are known as ______. (Points: 1)
frictional unemployment
structuralunemployment
randomunemployment
cyclicalunemployment
3. When the output gap is negative the actualunemployment rate is ______. (Points: 1)
above thenatural rate
below thenatural rate
equal to thenatural rate
the actualand natural unemployment rates are not related to the outputgap
4. Wages may be sticky in the short run dueto _______. (Points: 1)
so fewworkers being unionized
firmswanting to make a profit at the expense ofemployees
governmentregulation
some wagesbeing governed by long-term contracts
5. If workers expect a lower rate ofinflation, the short-run Phillips curve will ______. (Points:1)
remainconstant, but there will be a movement down thecurve
beunaffected
shiftup
shiftdown
6. Which of the following would be the BESTexplanation for an upward-sloping short-run aggregate supply curve?(Points: 1)
Prices areperfectly flexible.
Wages areperfectly flexible.
Wages andprices of some goods are sticky in the short run.
Wages andprices of some goods are flexible in the short run but sticky inthe long run.
7. In the long run, any given percentageincrease in the money supply ______. (Points: 1)
decreasesreal GDP
leads to anequal percentage increase in the overall pricelevel
increasesreal GDP
leads to anequal percentage decrease in the unemployment rate
8. Seigniorage refers to the ______. (Points:1)
problemsfaced by Social Security as the population ages
government'sright to print money
problemssenior citizens face in retirement
problemscreated when the government prints too much money
9. Unexpected inflation _______. (Points:1)
affectseveryone the same
affects onlyconsumers
affects onlybusiness firms
helps somepeople but hurts others
10. If the economy is in a liquidity trap_______. (Points: 1)
bothmonetary and fiscal policies are effective
neithermonetary nor fiscal policy is effective
monetarypolicy is effective, but fiscal policy is not
fiscalpolicy is effective, but monetary policy is not Would just like someone to answer those to compare to myanswers. I have 8 out of the 10 answers and do not know what number10 is or 8. Also have a couple other questions I'm not sureon. 10. Due to historical differences, countries often differ inhow quickly a change in actual inflation is incorporated into achange in expected inflation. In a country such as Japan that hashad very little inflation in recent memory, it will take longer fora change in the actual inflation rate to be reflected in acorresponding change in the expected inflation rate. In contrast,in a country such as Argentina, one that has recently had very highinflation, a change in the actual inflation rate will immediatelybe reflected in a corresponding change in the expected inflationrate. What does this imply about the short-run and long-runPhillips curves in these two types of countries? What does thisimply about the effectiveness of monetary and fiscal policy toreduce the unemployment rate? Chapter 16: Inflation, Disinflation, andDeflation
5. Concerned about the crowding-out effects ofgovernment borrowing on private investment spending, a candidatefor president argues that the United States should just print moneyto cover the government’s budget deficit. What are theadvantages and disadvantages of such a plan? 1. Frictional unemployment might be_______. (Points: 1)
good sincethat means people may be seeking jobs that match their jobskills
good becausepeople learn how other folks live
bad becausepeople are not getting a paycheck
bad becausepeople are out of work
2. Deviations from the natural rate ofunemployment are known as ______. (Points: 1)
frictional unemployment
structuralunemployment
randomunemployment
cyclicalunemployment
3. When the output gap is negative the actualunemployment rate is ______. (Points: 1)
above thenatural rate
below thenatural rate
equal to thenatural rate
the actualand natural unemployment rates are not related to the outputgap
4. Wages may be sticky in the short run dueto _______. (Points: 1)
so fewworkers being unionized
firmswanting to make a profit at the expense ofemployees
governmentregulation
some wagesbeing governed by long-term contracts
5. If workers expect a lower rate ofinflation, the short-run Phillips curve will ______. (Points:1)
remainconstant, but there will be a movement down thecurve
beunaffected
shiftup
shiftdown
6. Which of the following would be the BESTexplanation for an upward-sloping short-run aggregate supply curve?(Points: 1)
Prices areperfectly flexible.
Wages areperfectly flexible.
Wages andprices of some goods are sticky in the short run.
Wages andprices of some goods are flexible in the short run but sticky inthe long run.
7. In the long run, any given percentageincrease in the money supply ______. (Points: 1)
decreasesreal GDP
leads to anequal percentage increase in the overall pricelevel
increasesreal GDP
leads to anequal percentage decrease in the unemployment rate
8. Seigniorage refers to the ______. (Points:1)
problemsfaced by Social Security as the population ages
government'sright to print money
problemssenior citizens face in retirement
problemscreated when the government prints too much money
9. Unexpected inflation _______. (Points:1)
affectseveryone the same
affects onlyconsumers
affects onlybusiness firms
helps somepeople but hurts others
10. If the economy is in a liquidity trap_______. (Points: 1)
bothmonetary and fiscal policies are effective
neithermonetary nor fiscal policy is effective
monetarypolicy is effective, but fiscal policy is not
fiscalpolicy is effective, but monetary policy is not Would just like someone to answer those to compare to myanswers. I have 8 out of the 10 answers and do not know what number10 is or 8. Also have a couple other questions I'm not sureon. 10. Due to historical differences, countries often differ inhow quickly a change in actual inflation is incorporated into achange in expected inflation. In a country such as Japan that hashad very little inflation in recent memory, it will take longer fora change in the actual inflation rate to be reflected in acorresponding change in the expected inflation rate. In contrast,in a country such as Argentina, one that has recently had very highinflation, a change in the actual inflation rate will immediatelybe reflected in a corresponding change in the expected inflationrate. What does this imply about the short-run and long-runPhillips curves in these two types of countries? What does thisimply about the effectiveness of monetary and fiscal policy toreduce the unemployment rate? Chapter 16: Inflation, Disinflation, andDeflation
5. Concerned about the crowding-out effects ofgovernment borrowing on private investment spending, a candidatefor president argues that the United States should just print moneyto cover the government’s budget deficit. What are theadvantages and disadvantages of such a plan? Chapter 16: Inflation, Disinflation, andDeflation
5. Concerned about the crowding-out effects ofgovernment borrowing on private investment spending, a candidatefor president argues that the United States should just print moneyto cover the government’s budget deficit. What are theadvantages and disadvantages of such a plan?
Explanation / Answer
2 B3 A 4 D 5 D 6 C 7 B 8 B 9 D 10 D
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