The Aggregate Demand–Aggregate SupplyModel

Chapter 13

The Height Demand–Aggregate SupplyModel

Concept Map

      I.  Duty Cycle

     II.  Height Demand

          A.  Climb of the Height Require Curve

               1.  The Riches Effect

               2.  The Account Reprimand Effect

               3.  The Interdiplomatic Occupation Effect

          B.  Shifts of the Height Require Curve

    III.  Height Supply

          A.  Long-Run Height Supply

          B.  Short-Run Height Supply

    IV.  Equilibrium in the Height Demand–Aggregate Afford Model

          A.  Adjusting to Shifts in Long-Run Height Supply

          B.  Adjusting to Shifts in Short-Run Height Supply

          C.  Adjusting to Shifts in Height Demand

MULTIPLE-CHOICE QUESTIONS

    1.  Which of the forthcoming is penny encircling recessions in the United States?

         a.  They are further base today than in the late.

         b.  They are rarer today than in the late.

         c.  They take-place predictably encircling complete two years.

         d.  They take-place predictably encircling complete view years.

         e.  They are frequently accountd by exchanges in empire management.

.

    2.  How multifarious recessions enjoy there been in the United States gone 1982?

         a.  none

         b.  one

         c.  two

         d.  three

         e.  four

.

    3.  The vocable ___________ is a beloved way to delineate the recession-comment plan followed by the management.

         a.  duty cycle

         b.  output cycle

         c.  inflation cycle

         d.  unemployment cycle

         e.  long-run cycle

.

    4.  Business-cycle doctrine focuses on interval horizons of short than:

         a.  five years.

         b.  ten years.

         c.  two years.

         d.  one year.

         e.  one month.

.

    5.  The pattern used to consider duty cycles is the:

         a.  drudge pattern.

         b.  frugals pattern.

         c.  augmentation pattern.

         d.  height require–height afford pattern.

         e.  account reprimand pattern.

.

    6.  Unemployment soars and authentic sensual domiciliary result (GDP) augmentation slows during the:

         a.  comment bearing of a duty cycle.

         b.  recession bearing of a duty cycle.

         c.  solid duty cycle.

         d.  revival bearing of a duty cycle.

         e.  short-run bearing of a duty cycle.

.

    7.  Height require is unshaken by adding up the spending of:

         a.  domiciliary consumers who buy chattels and services performed in the United States.

         b.  domiciliary consumers and firms that buy chattels and services performed in the United States.

         c.  domiciliary and alien consumers who buy chattels and services performed in the United States.

         d.  domiciliary and alien consumers and firms that buy chattels and services performed in the United States.

         e.  consumers, firms, the empire, and alieners that buy chattels and services performed in the United States.

I.

    8.  The height require deflexion is best represented by which of the forthcoming equations?

         a.

         b.

         c.

         d.

         e.

    9.  The height require deflexion images the:

         a.  explicit sympathy between the prize roll and the measure requireed of authentic sensual domiciliary result (GDP).

         b.  explicit sympathy between the prize roll and the measure requireed of formal GDP.

         c.  inverse sympathy between the prize roll and the measure requireed of authentic GDP.

         d.  inverse sympathy between the prize roll and the measure requireed of formal GDP.

         e.  explicit sympathy between the roll of spending and the roll of authentic GDP.

  10.  The prize condemnation used to illustreprimand the height require deflexion is the:

         a.  sensual domiciliary result (GDP) deflator. (prize roll)

         b.  consumer prize condemnation.

         c.  object prize condemnation.

         d.  formal prize condemnation.

         e.  authentic prize condemnation.

  11.  Which of the forthcoming would account an upward move parallel the height require deflexion?

         a.  There is an extension in expected allowance.

         b.  An extension in the prize roll extensions the prize of authentic riches.

         c.  An extension in housing prizes extensions the prize of authentic riches.

         d.  The prize of the dollar extensions.

         e.  There is an extension in the expected prize roll.

DIF: Difficult  TOP: II.

REF: The Climb of the Height Require Curve  MSC: Applying

  12.  Which of the forthcoming would account a downward move parallel the height require deflexion?

         a.  A soar in the prize roll makes U.S. chattels proportionately further valuable than alien chattels.

         b.  The prize of authentic riches soars.

         c.  There is a refuse in the expected prize roll.

         d.  A droop in the prize roll extensions frugals and lowers account reprimands.

         e.  The prize of the dollar lessens.

DIF: Difficult  TOP: II.

REF: The Climb of the Height Require Curve  MSC: Applying

  13.  Consider the riches consequence, account reprimand consequence, and interdiplomatic occupation consequence. Of these, the __________ consequence is the most symbolical and the __________ consequence is the meanest symbolical.

         a.  riches; interdiplomatic occupation

         b.  riches; account reprimand

         c.  account reprimand; riches

         d.  account reprimand; interdiplomatic occupation

         e.  interdiplomatic occupation; riches

I.A.

REF: The Climb of the Height Require Curve 

  14.  The height require deflexion climbs downward because:

         a.  as prize soars, consumers yield cheaper chattels for further valuable chattels.

         b.  all require deflexions climb downward.

         c.  a conspicuous prize roll succeed extension purchasing dominion.

         d.  a conspicuous prize roll succeed extension exports.

         e.  a conspicuous prize roll reduces riches.

DIF: Medium TOP: II.A.

REF: The Climb of the Height Require Curve 

  15.  The riches consequence, account reprimand consequence, and interdiplomatic occupation consequence all interpret why the:

         a.  height require (AD) deflexion has a denying climb.

         b.  AD deflexion has a explicit climb.

         c.  height afford (AS) deflexion has a explicit climb.

         d.  AS deflexion has a denying climb.

         e.  prize roll and authentic sensual domiciliary result (GDP) are unconnected.

DIF: Medium TOP: II.A.

REF: The Climb of the Height Require Curve 

  16.  When the prize roll soars, __________ refuses from the riches consequence, __________ refuses from the account reprimand consequence, and __________ refuse(s) from the interdiplomatic occupation consequence.

         a.  decrease; investment; net exports

         b.  decrease; decrease; decrease

         c.  investment; investment; net exports

         d.  investment; decrease; net exports

         e.  investment; investment; investment

DIF: Medium TOP: II.A.

REF: The Climb of the Height Require Curve  MSC: Understanding

  17.  The prize of one’s accumulated property is best defined as:

         a.  currency.

         b.  riches.

         c.  allowance.

         d.  frugal.

         e.  net excellence.

DIF: Medium TOP: II.A.1.

REF: The Climb of the Height Require Curve 

  18.  The riches consequence is best delineated as resulting from:

         a.  an extension in the prize roll reducing the authentic prize of riches.

         b.  a lessen in the prize roll reducing the authentic prize of riches.

         c.  an extension in riches due to chief gains.

         d.  a lessen in riches due to chief gains.

         e.  an extension in disposable allowance due to a decrease in taxes.

DIF: Medium TOP: II.A.1.

REF: The Climb of the Height Require Curve

  19.  An extension in the prize roll that reduces the authentic prize of riches is slight to __________ decrease and __________ frugal.

         a.  extension; extension

         b.  lessen; lessen

         c.  lessen; extension

         d.  extension; lessen

         e.  enjoy no consequence on; enjoy no consequence on

DIF: Medium TOP: II.A.1.

REF: The Climb of the Height Require Curve  MSC: Understanding

  20.  A droop in the prize roll that accounts a exexvary in the authentic prize of riches results in:

         a.  a downward move parallel the height require deflexion.

         b.  an upward move parallel the height require deflexion.

         c.  a rightward vary of the require deflexion.

         d.  a leftward vary of the require deflexion.

         e.  no exexvary in the measure of height require.

DIF: Medium TOP: II.A.1.

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