Economics - The Phillips Curve
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This is The MCQs of Economics
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Question 1 of 20
1. Question
The misery index Which some commentators suggest measures the health of the economy, is:
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Question 2 of 20
2. Question
The original Phillips curve illustrates
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Question 3 of 20
3. Question
The Phillips curve is an extension of the model of aggregate supply and aggregate demand because, in the short run, an increase in aggregate demand increase price and
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Question 4 of 20
4. Question
Along a short-run Phillips curve,
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Question 5 of 20
5. Question
If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve
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Question 6 of 20
6. Question
According to the Phillips curve, in the short run, if policy makers choose an expansionary policy to lower the rate of unemployment
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Question 7 of 20
7. Question
An increase in expected inflation
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Question 8 of 20
8. Question
Which of the following would shift the long-run Phillips curve to the right?
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Question 9 of 20
9. Question
When actual inflation exceeds expected inflation,
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Question 10 of 20
10. Question
A decrease the Price of foreign oil
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Question 11 of 20
11. Question
The natural rate hypothesis argues that
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Question 12 of 20
12. Question
Refer to Exhibit 6.If People in the economy expect inflation to be 3 percent and inflation is 3 percent the economy is operating at point
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Question 13 of 20
13. Question
Refer to Exhibit 6.If People in the economy expect inflation to be 6 percent but inflation turn out to be 3 percent the economy is operating at point
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Question 14 of 20
14. Question
Refer to Exhibit 6.Suppose the economy is in long-run equilibrium at point E. A sudden increase in government spending should move the economy in the direction of point.
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Question 15 of 20
15. Question
Refer to Exhibit 6. Suppose the economy is operating at point (D) As people revise their price expectations,
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Question 16 of 20
16. Question
Refer to Exhibit 6. Suppose the economy is Operating in long-run equilibrium at point E. An unexpected monetary contraction will move the economy in the direction of point
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Question 17 of 20
17. Question
Refer to Exhibit 6. Suppose the economy is Operating in long-run equilibrium at point E. In the long run a monetary contraction will move the economy in the direction of point:
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Question 18 of 20
18. Question
If people have rational expectations a monetary policy contraction that is announced and is credible could
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Question 19 of 20
19. Question
If the sacrifice ratio is five, a reduction in inflation from 7 percent to 3 percent would require
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Question 20 of 20
20. Question
If a country’s policy makers were to continuously use expansionary monetary policy in an attempt to hold unemployment below the natural rate the long-run result would be
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