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D. all of the above.
71. Hysteresis is the effect of history on
72. Hyperinflation usually starts when 73. In the basic endogenous growth model, the production function exhibits
74. In the basic endogenous growth model, usually called the Y=AK model, as long as the savings rate times the constant A is greater the rate of depreciation, income will grow 75. In the Solow model, savings leads to _______ growth, but in the Y=AK model, savings can lead to _______ growth. 76. In the two sector model presented in Section 8-4, where the sectors consist of manufacturing firms and research universities,
77. In the two sector model, the proportion of labor devoted to research universities determines the
78. In most endogenous growth theories, externalities from firms' research play a crucial role. Economists agree that research 79. If a firm with a constant returns to scale production function pays all factors their marginal products, then 80. If an individual is to hold lower money balances on average, she must make more frequent trips to the bank to withdraw money. This inconvenience of reducing money holding is called 81. In the Solow model with technological progress, an increase in the rate of technological change will
82. In a Solow model with population growth and technological progress, the steady state level of consumption is maximized when the steady state marginal product of capital equals the rate of depreciation plus
83. In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of output per efficiency unit is
84. In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of output per worker is
85. In the Solow growth model with population growth (n) and technological Progress (g), the steady-state growth rate of total output is 86. If two economies are identical except for their rates of population growth, then the economy with the higher rate of population growth will have 88. If the population growth rate decreases in an economy described by the Solow growth model, the line representing population growth and depreciation will 90. If a production function has two inputs and exhibits constant returns to scale, then doubling both inputs will cause the output to 93. In the sticky-wage model, output deviates from the natural rate through 94. In the sticky-wage model, employment is assumed to be determined by the 95. In the imperfect-information model, it is assumed that firms 96. In the sticky-price model, if the fraction of firms in the economy that set prices in advance rises, then it would be expected that the aggregate supply curve 97. If expected inflation rises, the Phillips curve
99. In a closed economy with output fixed, an increase in government spending matched by an equal increase in taxes will
100. In a closed economy with fixed output, an increase in government spending without any change in taxes will lead to a(n) 102. If the Fed reduces the supply of money, the 103. In the short run, if prices are fixed, the aggregate supply curve is 104. In the full model of the economy presented in chapter 3, the variable that adjusts to equilibrate the supply and demand for goods and services is
105. If the nominal exchange rate is $1 equals 150 Japanese yen, and a Big Mac costs $2 in the U.S. and 300 yen in Japan, then the real exchange rate of U.S. Big Macs for Japanese Big Macs is 107. If the marginal propensity to consume is large, then the
108. In the early 1980's the Federal Reserve, under Paul Volcker, began a period of tight money aimed at reducing inflation. Under this policy, nominal interest rates were: 109. In the quantity theory interpretation of the LM curve, the LM curve slopes up because 110. If the central bank increased the supply of real money balances, then the LM curve would 111. If money demand became more sensitive to the level of income, the LM curve would 112. In the Keynesian cross model of Chapter 10, if the interest rate is constant and the MPC is 0.7, then the government purchases multiplier is
113. In the Keynesian cross model of Chapter 10, if the interest rate is constant, the MPC is 0.6, and taxes are increased by $100, by how much does income change?
114. In "The General Theory of Employment, Interest, and Money," John Maynard Keynes proposed that the Great Depression was caused by 115 If a country's real exchange rate falls (depreciates), then 116In the model of Chapter 5, if the government prevented the import of foreign cars, then, in the resulting equilibrium, net exports would 117. If the capital stock is above the steady-state level, then investment 118. If an economy is initially in a steady state and it experiences an increase in its saving rate, then the steady-state capital stock will 119. In the Solow model, the depreciation rate represents the 120 If the United States has an inflation rate of 10 percent, Great Britain has an inflation rate of 12 percent, and the United States dollar has a nominal appreciation against the British pound of 3 percent, then the real appreciation of the United States dollar against the British pound is
121. If the supplies of capital and labor are fixed and technology is unchanging, then real output is 123. If the rate of unemployment is neither rising nor falling, then the number of people finding jobs must equal the number of people 125. In which case is total expenditure in an economy not equal to total income? Date: 2015-12-11; view: 965
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