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Question 41
" D5 a A9 `( S5 B- q. v" F& q QAn economy in long-run equilibrium experiences a cost-push inflation shock. If a feedback rule monetary policy that focuses on the price level is in place, which of the following effects of the monetary policy change is least likely?( e" ~7 W5 T; J
A) Real gross domestic product decreases and the inflation decreases.) M# h0 V3 V6 d
B) The price level decreases and output remains unchanged.! e5 j- r& {6 @$ |
C) The rate of money supply growth decreases. A0 [$ g- \( ~1 Q$ }- ^9 |
D) Aggregate demand decreases.
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Question 42- [" J4 b& {! _4 s T
The velocity of money is the:) q9 a, X- j5 x/ }
A) rate at which the price index for consumer goods rises.
0 U1 g; L& P5 N( ~B) output expansion multiple of government expenditures. _ Y0 ?8 y8 e0 h
C) average number of times a dollar is used to purchase goods and services.' K8 ]7 Z- d# K1 c# |
D) number of times a dollar is taken out of the country during a year.: r! y* e1 f1 d4 b; s
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Question 43/ X& l3 I# Z; e. w1 u0 q4 g
The advantages of a proprietorship are least likely to include:
# b% [9 N7 l6 _- d0 WA) ease of formation.
) m0 N [5 K! O; s( r- QB) simple decision making process.
. o4 {- J9 H+ V" y* [6 rC) single taxation of profits.8 c& O0 y2 E2 `) k0 `
D) limited liability. " i& x" F8 D" Q6 B9 c! N
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Question 449 d6 b$ c O5 B6 a/ |9 j
In theory, the supply of a non-renewable resource is:
s# k: s: y% r `4 Q$ Y! sA) fixed over a specific period of time.
( T9 |3 N9 D- Y7 w' ?/ xB) perfectly inelastic at a price that equals the present value of the expected next-period price.9 h- [5 @% f$ a3 \9 Q* a/ ?$ f
C) perfectly elastic., A& v1 m* i4 F. G6 n& j2 |: k% L
D) perfectly inelastic at the price where demand intersects supply.2 T4 u2 V4 G+ e2 A
/ _: k& |% F/ g# @8 ^Question 45
* R, w; I. g+ pDemand-pull inflation would least likely be caused by an increase in:
b2 y- f2 g/ a, RA) the prices of raw materials.
2 ~8 }- A8 Z7 h2 @B) the money supply.8 m' x" A- i" R O+ I! N( i, B
C) government purchases.# [9 o* M8 F9 ?: S" n* C; v9 w
D) foreign incomes.3 T' V" U1 ?" q# f; t% R
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