Which model of economic growth more accurately describes economic growth in the long-run?
How will the supply curve for labor be affected if people decide that they value vacation time more highly and consequently decide to work fewer hours at each wage point?
Which best defines aggregate supply in the short-run?
Which of the following is an example of a budget surplus?
When government spending is $140,000,000 and tax receipts are $110,000,000.
When government spending is $100,000,000 and tax receipts are $110,000,000.
When government spending is $120,000,000 and tax receipts are $110,000,000.
When government spending is $220,000,000 and tax receipts are $210,000,000.
As income rises from $50,000 to $60,000, consumption increases from $40,000 to $48,000. In this case, what is the MPC?
Which of the following is true about business expenses and business taxes?
In the Keynesian model, what is the orientation of the aggregate supply curve?
Which of the following most accurately describes the difference between the short-run aggregate supply curve and the long-run aggregate supply curve?
Which of the following statements is NOT true regarding the marginal propensity to save?
Why can sticky wages and sticky prices be problematic?
Which is the best description of the short-run aggregate supply curve?
Labor supply is the total hours that workers or employees are willing to work at a given _____.
Prices in the economy can be sticky because of things like _____
Which of the following correctly describes the curves in the AS/AD Model?
Which of the following can increase aggregate supply?
What does the term 'sticky prices' mean?
Which of the following
BEST describes crowding out?
What do you need to calculate in order to determine the marginal propensity to consume?
Which of the following factors does NOT cause a shift in the overall labor supply?
An upward sloping SRAS curve and a vertical LRAS reflect the fact that:
The short-run effects of an unfavorable oil shock would likely include which of the following?
Assume that consumption spending is $16,000. For every $200 increase in disposable income, saving goes up by $20. Which of the following statements is true?
What does it mean when the demand for labor shifts to the right?
According to the AS/AD Model, what happens to real GDP, prices, and unemployment when Consumption increases?
What is the total number of worker hours that firms are willing to incur at given wage levels?
In the Classical model, what shape is the aggregate supply curve?
Aggregate supply is defined as the total amount of goods and services that are _____.
Aggregate supply is composed of which of the following?
How is an increase in the average price level in the economy along with a short run decrease in real GDP most likely caused?
When there is an unexpected increase in the world supply of oil, the Real GDP will _____.
Aggregate Demand & Supply Chapter Exam Instructions
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