1、Name: Class: Date: Chapter17-FiveDebatesoverMacroeconomicPolicy1. Intheaggregatedemandandaggregatesupplymodel,whichpairofsimultaneouseventscausesadecreaseinoutputandemployment? a. lowerdemandandlowersupply b. lowerdemandandhighersupply c. higherdemandandhighersupply d. higherdemandandlowersuppl
2、yANSWER: a2. Howis"leaningagainstthewind"exemplified? a. byataxcutwhenthereiseconomicexpansion b. byadecreaseinthemoneysupplywhenthereisarecession c. byanincreaseingovernmentexpenditureswhenthereisarecession d. byanincreaseingovernmentspendingwhenthereiseconomicexpansionANSWER: c3. Iffirmsweref
3、acedwithgreateruncertaintybecauseofconcernthatoilpricesmightrise,theymightdecreaseexpendituresoncapital.Whatresponsemightsomeonewhoadvocatedfor"leanagainstthewind"policiessupport a. decreasethemoneysupply b. decreasetaxes c. decreasegovernmentexpenditures d. increaseinterestratesANSWER: b4. What
4、wouldthosewhodesirethatpolicymakersstabilizetheeconomyadvocatewhenaggregatedemandisinsufficienttoensurefullemployment? a. decreasingthemoneysupply b. decreasingtaxes c. decreasinggovernmentexpenditures d. decreasinggovernmentdeficitANSWER: b5. Supposeaggregatedemandfell.Inordertostabilizetheecon
5、omy,whatmightthegovernmentdo? a. increasetheinterestrate b. decreasethemoneysupply c. increasegovernmentspending d. decreasethegovernmentexpendituresANSWER: c6. Whichofthefollowingarebothpoliciesthatareconsistentwithtryingtostabilizeoutputwhenpricesandoutputrise? a. decreasethemoneysupplyanddecr
6、easetaxes b. increasethemoneysupplyanddecreasetaxes c. decreasethemoneysupplyandincreasetaxes d. increasethemoneysupplyandincreasetaxesANSWER: cCopyrightCengageLearning.PoweredbyCognero.Page 23Name: Class: Date: Chapter17-FiveDebatesoverMacroeconomicPolicy7. Ingeneral,whatisthelongestlagforfis
7、calandmonetarypolicy? a. Forbothfiscalandmonetarypolicy,itisthetimeittakestochangepolicy. b. Forbothfiscalandmonetarypolicy,itisthetimeittakesforpolicytoaffectaggregatedemand. c. Formonetarypolicy,itisthetimeittakestoc
