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1、CompetingViewsinMacroeconomicTheory1.Fromthemainstreamperspective,instabilityintheeconomyisduetoprice A. flexibilityandshockstoeitheraggregatedemandoraggregatesupply.B. stickinessandshockstoeitheraggregatedemandoraggregatesupply.C. flexibilityandgovernmentpolicie
2、sandregulation. D. stickinessandgovernmentpoliciesandregulation. 2.Inthemainstreamview,onemajorsourceofinstabilityinthemacroeconomyisthevolatilityof A. productprices.B. investmentspending.C. consumerspending.D. laborwages. 3.Accordingtomainstreameconomiststheba
3、sicdeterminantofrealoutput,employment,andthepricelevelis A. informationandpeople'sexpectations.B. thelevelofaggregateexpenditures.C. theincentivetowork,save,andinvest.D. thesupplyofmoney. 4.Inthemonetaristview A. changesininvestmentspendingareamajorsourceofmacro
5、nthemoneysupplyistheprimarycauseofchangeinrealoutputandthepricelevelismostcloselyassociatedwith A. rationalexpectationstheory.B. realbusinesscycletheory.C. mainstreameconomics.D. monetarism. 6.Fromamonetaristperspective,instabilityinthemacroeconomyarisesfrom A.
6、seculartrendsintheeconomy.B. theinstabilityofvelocityasapolicytool.C. discretionarychangesinmonetarypolicy.D. theuseofamonetaryruleformonetarypolicy. 7.Monetaristsarguethattheamountofmoneythepublicwillwanttoholddependsprimarilyonthelevelof A. nominalGDP.B. invest
7、ment.C. consumption.D. prices. 8.Inthestrictmonetaristview,alargeincreaseinthemoneysupplywillhave A. alargeimpactonthevelocityofmoneyandalargeimpactonnominaloutput.B. alargeimpactonthevelocityofmoneyandasmallimpactonnominaloutput.C. noeffectonthevelocityofmoneyan
8、dalargeimpactonnominaloutput.D. noeffectonthevelocityofmoneyandasmallimpactonthenominaloutput. 9.Monetaristsarguethattherelationshipbetween A. thequant
