[{"id":213689,"question":"If the expected inflation rate is unchanged a fall in the natural rate of unemployment would.","choices":[{"text":"shift the Phillips curve to the right","value":"A"},{"text":"Not Shift the phillips curve","value":"B"},{"text":"Shift the Phillips curve to the left","value":"C"},{"text":"shift the Phillips curve to the left shift the long -run Philips curve to the right","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213688,"question":"An increase in the expected rate of inflation would.","choices":[{"text":"shift the Philips curve upward","value":"A"},{"text":"shift the phillips curve downward","value":"B"},{"text":"Shift the long -run phillips curve to the right","value":"C"},{"text":"Shift the long-run phillips curve to the left","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213687,"question":"The philippic curve is the relation between inflation and unemployment that hold for a given natural rate of unemployment. and a","choices":[{"text":"Given rate of inflation","value":"A"},{"text":"Given expected rate on inflation","value":"B"},{"text":"Given level of unemployment","value":"C"},{"text":"Given expected level of unemployment","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213686,"question":"\"An Enquiry into the Nature and causes of wealth of Nations\" is thebook of economist.","choices":[{"text":"Adam smith","value":"A"},{"text":"Marshall","value":"B"},{"text":"Robbins","value":"C"},{"text":"None of above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213685,"question":"If the federal reserve whishes to increase the money supply, it should","choices":[{"text":"Raise the reserve requirement","value":"A"},{"text":"Raise the discount rate","value":"B"},{"text":"Buy Treasury securities in the open the market","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213684,"question":"Friedman and phelps suggested that there should not be a stable relationship between inflation and unemployment, but here should be a stable relationship between","choices":[{"text":"Anticipated inflation and frictional unemployment","value":"A"},{"text":"Anticipated inflation and cyclical unemployment","value":"B"},{"text":"Unanticipated inflation and frictional unemployment.","value":"C"},{"text":"Unanticipated inflation and cyclical unemployment","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213683,"question":"The negative relation ship between unemployment and inflation is know as the","choices":[{"text":"Aggregate supply curve","value":"A"},{"text":"Aggregate demand curve","value":"B"},{"text":"Philipps curve","value":"C"},{"text":"Efficiency wage line","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213682,"question":"The origin of the idea of a trae off between inflation and unemployment was a 1958 article by","choices":[{"text":"A.W Philips","value":"A"},{"text":"Edmund phelps","value":"B"},{"text":"Milton Friedman","value":"C"},{"text":"Robert Gordon","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213681,"question":"Assuming that money is neutral an increase in the nominal money supply would causes.","choices":[{"text":"An excess supply for goods","value":"A"},{"text":"an increase in the real money supply","value":"B"},{"text":"A fall in the price level","value":"C"},{"text":"A rise in nominal wages","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213680,"question":"The term household production refers to","choices":[{"text":"Output produced by forcing children to work","value":"A"},{"text":"Output produced by workers who are telecommuting","value":"B"},{"text":"Services provided directly to households such as lawn mowing by landscape companies.","value":"C"},{"text":"Output produced at home","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213679,"question":"According to classical economists unemployment rises in recessions due to an increase in ______ unemployment , not in _______ unemployment.","choices":[{"text":"Cyclical ; frictional and structural","value":"A"},{"text":"Frictional and cyclical , structural","value":"B"},{"text":"Structural , frictional and cyclical","value":"C"},{"text":"Frictional and structural ; cyclical","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213678,"question":"In the monetary base is increased by $1,000 and the reserve requirement is 10% by how much will the money supply be increased.","choices":[{"text":"$100","value":"A"},{"text":"$1,000","value":"B"},{"text":"$5,000","value":"C"},{"text":"$10,000","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213677,"question":"The monetary base in composed of.","choices":[{"text":"Gold and silver","value":"A"},{"text":"Currency only","value":"B"},{"text":"Currency and reserves","value":"C"},{"text":"Currency and checkable deposits","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213676,"question":"Which of the following is the most liquid.","choices":[{"text":"A savings account","value":"A"},{"text":"A 6 months CD","value":"B"},{"text":"A home","value":"C"},{"text":"Water","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213675,"question":"A temporary adverse productivity shock would.","choices":[{"text":"Shift the labor supply curve upward","value":"A"},{"text":"Decrease the level of employment","value":"B"},{"text":"Decrease future income","value":"C"},{"text":"Decrease the expected future marginal product of capital","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213674,"question":"Which of the following is an example of a productivity shock.","choices":[{"text":"The introduction of new management techniques","value":"A"},{"text":"A change in taxes on corporate profits","value":"B"},{"text":"A change in the level of government transferors","value":"C"},{"text":"An increase in the money supply","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213673,"question":"Real business cycle theorists think that most business cycle fluctuations are caused by shocks to.","choices":[{"text":"The production function","value":"A"},{"text":"The size of the labor force","value":"B"},{"text":"The real quantity of government purchases","value":"C"},{"text":"The spending and saving decisions of consumers","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213672,"question":"Which of the following is not a primary cause of business cycle fluctuations according to real business cycle theory.","choices":[{"text":"A change in the production function","value":"A"},{"text":"A change in the size of the labor force","value":"B"},{"text":"A change in the money supply","value":"C"},{"text":"A change in the real quantity of government purchases","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213671,"question":"An IOU of the Federal Reserve Bank of Scan Francisco to Bank of America is called.","choices":[{"text":"Discourse","value":"A"},{"text":"Federal funds","value":"B"},{"text":"Reserves","value":"C"},{"text":"Collateral","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213670,"question":"Total factor productivity growth is that part of economic growth due to.","choices":[{"text":"Capital growth plus labor growth","value":"A"},{"text":"Capital growth less labor growth","value":"B"},{"text":"Capital growth times labor growth","value":"C"},{"text":"Neither capital growth nor labor growth","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213669,"question":"In the short run in the Keynesian model a sharp increase in oil prices would leave the economy with a ____ level of output and a ______ real interest rate.","choices":[{"text":"Higher ; lower","value":"A"},{"text":"Lower ; Higher","value":"B"},{"text":"Higher ; higher","value":"C"},{"value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213668,"question":"Monetary expansion can still be effective in getting out of liquidity trap if it's combined with.","choices":[{"text":"Restrictions on bank loans","value":"A"},{"text":"Increased taxes","value":"B"},{"text":"Contractionary fiscal policy","value":"C"},{"text":"Expansionary fiscal policy","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213667,"question":"A situation in which expansionary in monetary policy has no effect on the economy is known as.","choices":[{"text":"Macro economic stabilization","value":"A"},{"text":"A liquidity trap","value":"B"},{"text":"A depression","value":"C"},{"text":"Capital flight","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213666,"question":"The use of micro economics policies to smooth or moderate the business cycle is known as.","choices":[{"text":"Aggregate demand management.","value":"A"},{"text":"Aggregate supply management","value":"B"},{"text":"Automatic stabilization","value":"C"},{"text":"Discretionary policy","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213665,"question":"The Keynesian theory is consistent with the business cycle fact that inflation is","choices":[{"text":"Procyclical and leading","value":"A"},{"text":"Procyclical and lagging","value":"B"},{"text":"Countercyclical and leading","value":"C"},{"text":"All of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213664,"question":"According to Keynesians the primary source of business cycle fluctuation is.","choices":[{"text":"Aggregate demand shocks","value":"A"},{"text":"Productivity shocks","value":"B"},{"text":"Oil price shocks","value":"C"},{"text":"Consumer confidence shocks","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213663,"question":"In the Keynesian model in the short run a decrease in government purchases causes output to _____ and the real interest rate to.","choices":[{"text":"fall ; rise","value":"A"},{"text":"fall ; fall","value":"B"},{"text":"rise ; rise","value":"C"},{"text":"rise; fall","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213662,"question":"Using the Keynesian model the effect of a government imposed celling on interest rates paid on personal checking accounts that is lower than the current market interest rate would be to cause._ in the real interest rate and _ in input out in the short sun.","choices":[{"text":"A decrease ; a decrease","value":"A"},{"text":"A decrease ; no change","value":"B"},{"text":"A decrease ; an increase","value":"C"},{"text":"An increase ; a decrease","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213661,"question":"Using the Keynesian model , the effect of a decrease in the effective tax rate on capital would be to cause_____ in the real interest rate and __ in output in the long run.","choices":[{"text":"An increase ; no change","value":"A"},{"text":"A decrease ; no change","value":"B"},{"text":"An increase ; an increase","value":"C"},{"text":"No change ; a decrease","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213660,"question":"Using the Keynesian model the effect of an increase in the effective tax rate on capital would be to cause _________ in the real interest rate and ______ in output in the short run.","choices":[{"text":"A decrease ; a decrease","value":"A"},{"text":"A decrease ; no change","value":"B"},{"text":"No change ; a decrease","value":"C"},{"text":"An increase ; an increase","value":"D"},{"value":"E"}],"correctAnswer":1}]