Sec_All_Short_Answer_and_Essay_Ch_35_

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1、SubjectiveShortAnswer1. Astheaggregatedemandcurveshiftstotheright,whathappenstothepricelevelandoutput?Whatdothesechangesimplyhappenstotheinflationrateandtheunemploymentrate?ANSWER:  Thepricelevelandoutputrise.Asthepricelevelrises,theinflationrateishigher.Asoutputishi

2、ghertheunemploymentrateislower.POINTS:  1DIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.102-Examinethetrade-offbetweeninflationandunemployment.TOPICS:  AggregatedemandMacroeconomicmodelsAD-ASModelKEYWORDS:  BLOOM'S:ApplicationCUSTOM ID:  001.35-SAE-MANK082. Acc

3、ordingtothePhillipscurve,whichfiscalpoliciescanbeusedtoreduceunemploymentintheshortrun?ANSWER:  Anincreaseingovernmentexpendituresoradecreaseintaxes.POINTS:  1DIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.102-Examinethetrade-offbetweeninflationandunemployment.

4、TOPICS:  MacroeconomicmodelsPhillipscurveKEYWORDS:  BLOOM'S:ApplicationCUSTOM ID:  002.35-SAE-MANK083. Ifassetpricesfallandinflationexpectationsremainunchanged,whathappenstoinflationandunemployment?Defendyouranswer.ANSWER:  Inflationfallsandunemploymentrises.Thedecre

5、aseinassetpriceswouldcauseconsumptiontofall,soaggregatedemandwouldshiftleftmakingpricesandoutputfall.Thisdecreaseindemandcanbeshownasadownwardmovementalongashort-runPhillipscurve.POINTS:  1DIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.102-Examinethetrade-offbe

6、tweeninflationandunemployment.TOPICS:  MacroeconomicmodelsPhillipscurveKEYWORDS:  BLOOM'S:ApplicationCUSTOM ID:  003.35-SAE-MANK084. Supposethatbusinessesbecomelessoptimisticaboutthefuture.Assumingnochangeininflationexpectations,howwouldtheeffectsofthisshockbeshownon

7、thePhillipscurvediagramandwhatwouldhappentoinflationandunemployment?ANSWER:  Thedecreaseinspendingisshownasadownwardmovementalongtheshort-runPhillipscurve.Theunemploymentratewouldriseandtheinflationratewouldfall.POINTS:  1DIFFICULTY:  ModerateLEARNING OBJECTIVES:  EC

8、ON.MANK.198-Givenascenarioonmarketoutcomes,derivetheshort-runPhillipscurve.TOPICS:  MacroeconomicmodelsCopyrightCengageLearning.Pow