Sec 33.5 MC Two Causes of Economic Fluctuations

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1、1. Ifoutputisaboveitsnaturalrate,thenaccordingtosticky-wagetheory a. workersandfirmswillstrikebargainsforlowerwages.Inresponsetothelowerwagesfirmswillproducelessatanygivenpricelevel. b. workersandfirmswillstrikebargainsforlowerwages.Inresponsetothelowerw

2、agesfirmswillproducemoreatanygivenpricelevel. c. workerswillstrikebargainsforhigherwages.Inresponsetothehigherwagesfirmswillproducelessatanygivenpricelevel. d. workersandfirmswillstrikebargainsforhigherwages.Inresponsetothehigherwagesfirmswillproducemore

3、atanygivenpricelevel.ANSWER:  cDIFFICULTY:  ChallengingREFERENCES:  TwoCausesofEconomicFluctuationsLEARNING OBJECTIVES:  ECON.MANK.175-Givenagraphoftheshort-runaggregate-supplycurve,determinetheeffectofachangeinoneofthedeterminantsofaggregatesupply.TOPIC

4、S:  AD-ASModelMacroeconomicmodelsKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  001.33.5-MC-MANK082. Thepricelevelrisesintheshortrunif a. aggregatedemandoraggregatesupplyshiftsright. b. aggregatedemandshiftsrightoraggregatesupplyshiftsleft. c. aggregatedemandshi

5、ftsleftoraggregatesupplyshiftsright. d. aggregatedemandoraggregatesupplyshiftsright.ANSWER:  bDIFFICULTY:  ModerateREFERENCES:  TwoCausesofEconomicFluctuationsLEARNING OBJECTIVES:  ECON.MANK.186-Givenascenarioaboutaneconomicshock,derivetheshort-runandlon

6、g-runeffectsonoutputandpricesaccordingtotheaggregatedemandandaggregatesupplymodel.TOPICS:  MacroeconomicmodelsAD-ASModelKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  002.33.5-MC-MANK083. Ifaggregatedemandshiftsleft,thenintheshortrun a. thepricelevelandrealGDPbo

7、thrise. b. thepricelevelrisesandrealGDPfalls. c. thepricelevelfallsandrealGDPrises. d. thepriceandrealGDPbothfall.ANSWER:  dDIFFICULTY:  EasyREFERENCES:  TwoCausesofEconomicFluctuationsLEARNING OBJECTIVES:  ECON.MANK.169-Givenagraphoftheaggregate-demandc

8、urve,determinetheeffectofachangeinoneofthedeterminantsofaggregatedemand.TOPICS:  AggregatedemandMacroeconomicmodelsAD-ASModelCopyrightCengageLearning.PoweredbyCognero.Page 45KEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  003.33.5-