Supply-Side Policy & Policy Comparisons Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. During the 1960's, what was the relationship between inflation and employment?

Question 2 2. In the short run, there tends to be a tradeoff between _____ and _____.

Question 3 3. When aggregate demand increases, unemployment tends to decrease, and inflation tends to increase. How can this be illustrated?

Question 4 4. What relationship does the Phillips Curve illustrate?

Question 5 5. What does the Phillips Curve describe?

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Question 6 6. How often is the US unemployment rate published?

Question 7 7. Which report is used to determine the inflation rate?

Question 8 8. What two data points are added together to create the misery index?

Question 9 9. Which of the following is NOT included in the basket of goods and services that make up the consumer price index?

Question 10 10. Why is Venezuela's misery index so high compared to other countries?

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Question 11 11. Which of the following policies would be supported by a supply-side economist?

Question 12 12. According to supply-side economists, how are taxes and economic growth related?

Question 13 13. Supply-side economic policies are sometimes referred to as:

Question 14 14. Which of the following policies is a component of supply-side fiscal policy?

Question 15 15. The central idea of supply-side economics is that certain types of tax cuts will increase:

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Question 16 16. Supply shocks that cause a leftward shift in the aggregate supply curve will lead to which of the following?

Question 17 17. What is the result of a negative supply shock?

Question 18 18. Which of the following would NOT lead to a shift of the short-run Phillips curve?

Question 19 19. What will an increase in aggregate supply do economically?

Question 20 20. When technology improves across the economy, how and why will the short-run Phillips Curve move?

Supply-Side Policy & Policy Comparisons Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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