(05.02 MC) Use the graph to answer the question that follows.Which point on the graph shows an inflationary gap in the economy?

(05.07 MC) Which of the following sets of changes would be most likely to promote economic growth?

  (03.04 LC) Which of the following resists change in the short run but becomes flexible in the long run?

(05.02 MC) A major technological innovation that increases structural unemployment for an extended period would correspond to what on the Phillips curve?

(05.02 MC) Why is the long-run Phillips curve (LRPC) a vertical line?

(03.03MC) Which of the following best describes the main reason for the upward-sloping shape of the short-run aggregate supply curve?

(03.05 MC) Which of the following is true if the economy is in long run equilibrium?

(05.05 MC) The economy depicted in this data table is closed, with no international trade of any kind. Government spending $40 billion Government transfer payments $20 billion Tax revenues $40 billion Private savings $60 billion Business capital investments $60 billion Based on the data above, which of the following must be true?

(06.04 HC) Assume the central bank of country X pursues an expansionary monetary policy, such as buying bonds. What will be the impact in the foreign exchange market?

(03.02 MC) Assume that the marginal propensity to consume is 0.9. If the government decreases spending by $50 billion at the same time that it decreases taxes by $50 billion, what would be the maximum impact on aggregate demand?