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C. durable goods consumption rises.
2. According to John Taylor's (and Alan Greenspan's?) monetary rule, the nominal federal funds rate should increase if inflation is 3.Automatic stabilizers largely eliminate 4. All of the following can definitely be considered an automatic stabilizer, EXCEPT a(n)
6. A fall in the index of leading indicators is supposed to predict that
7. A monetary policy that SPECIFIES IN ADVANCE different levels of monetary growth corresponding to different economic conditions is called a(n)
9. According to the Mundell-Fleming model, an appreciation of the exchange rate would 10. According to the Mundell-Fleming model, in a small country with a floating exchange rate, a tax cut will cause the exchange rate to 11. All of the following represent supply/price shocks EXCEPT 12. All of the following are possible explanations for the worldwide slowdown in economic growth during the 70's and 80's EXCEPT 13. Advocates of the Y=AK model interpret capital as 14. A permanent change in the growth rate of total output can arise from a change in the
15. At the Golden Rule level of capital accumulation, the marginal product of B. depreciation rate. 17. An economy starts off in a steady state with less capital than at the Golden Rule level. Now the saving rate changes to the level that will achieve the Golden Rule. What is the path of consumption during the transition to the Golden Rule steady state? 18. An economy is in a steady state with capital higher than the Golden Rule level. Now the saving rate falls to a level that will achieve the Golden Rule capital stock in the long run. What will happen to the level of consumption between the initial and new steady states? 19. A teenager is not able to find a job because the legal minimum wage is higher than the wage that firms are willing to offer.This situation is an example of
20. An increase in aggregate demand, such as that due to an increase in government purchases increases
21. According to the data 22. All three models of aggregate supply presented in Chapter 13 share the feature that, if the price level is above the expected price level, then
23 Assume that the nominal exchange rate for the euro is .75 euros per dollar. Suppose that a Volkswagen Golf costs 10,000 euros in Germany, while it costs $12,000 in the United States. What is the real exchange rate? 24. According to the classical dichotomy, which of these magnitudes is affected by monetary policy? 25. An example of a person who is counted as unemployed is a Date: 2015-12-11; view: 1385
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