[{"id":148173,"question":"The real exchange rate is defined as the:","choices":[{"text":"Market exchange rate adjusted for prices","value":"A"},{"text":"Market exchange rate adjusted for interest rates","value":"B"},{"text":"Market exchange rate","value":"C"},{"text":"Exchange rate determined by the government","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":148172,"question":"Which of the following economists came up with a theory regarding the tradeoff between unemployment and inflation?","choices":[{"text":"A.W. Phillips","value":"A"},{"text":"John Maynard Keynes","value":"B"},{"text":"Joseph Schumpeter","value":"C"},{"text":"Milton Friedman","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":148171,"question":"What is the interest rate effect that explains why the aggregate demand curve slopes downward?","choices":[{"text":"It refers to the effect of changes in the price level on quantity of investment demanded which in turn affects interest rates","value":"A"},{"text":"<div>It refers to the effect of interest rates on borrowing which in turn affects consumption spending.</div>","value":"B"},{"text":"It refers to the effect of changes in the price level on interest rates which in turn affects the quantity of investment demanded","value":"C"},{"text":"It refers to the shifts in aggregate demand when interest rates change","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":148170,"question":"In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:","choices":[{"text":"The aggregate demand, the short-run aggregate supply and the long-run aggregate supply curves","value":"A"},{"text":"The short-run aggregate supply and the long-run aggregate supply curves","value":"B"},{"text":"The aggregate demand and the short-run aggregate supply curves","value":"C"},{"text":"The aggregate demand and the long-run aggregate supply curves","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":148169,"question":"For a study of the long term growth of the economy, we use:","choices":[{"text":"Real GNP","value":"A"},{"text":"Nominal GNP","value":"B"},{"text":"Personal income","value":"C"},{"text":"Disposable personal income","value":"D"},{"value":"E"}],"correctAnswer":1}]