Question Completion Status: QUESTION 1 10 points Save Answer Business cycles are: O a. Sequences of expansions and contractions of economic activity O b. Ups and downs in the stock market O c. Fluctuations in the currency exchange markets O d. Long-run changes in TFP QUESTION 2 10 points Save Answer What kind of variable is unemployment? O a. Procyclical O b. Countercyclical O c. Acyclical O d. Bicyclical QUESTION 3 10 points Save Answer Which of the following could lead to a negative supply shock? O a. Major natural disaster O b. Relaxation of business regulations O c. Reduction in personal income taxes O d. Increase in personal income taxes QUESTION 4 10 points Save Answera; Question Completion Status: QUESTION 4 10 points Save Answer In terms of business cycles, lockdowns and restrictions associated wim the COVlD-19 pandemic could be thought of as: O a. Negative supply shock O b. Negative demand shock O c. Negative supply and demand shock at the same time O d, Positive supply shock 0 e. Positive demand shock O f. Positive supply and demand shock at the same time QUESTION 5 10 points Save Answer The Phillips curve describes the relationship between: O a. GDP and unemployment O b. Ination and stock prices O c. Unemployment and job vacancy rate O d. Ination and unemployment 0 e. House prices and ination QUESTION 6 10 points Save Answer In the context of the aggregate demand-aggregate supply (AD-AS) model, an increase in consumer condence would cause: 0 a. the aggregate demand curve to shift up and to the right O b,the aggregate demand curve to shift down and to the left O c a movement down and to the right along the aggregate demand curve O d.a movement up and to the left along the aggregate demand curve Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers :5 Question Completion Status: QUESTION 7 10 points Save Answer In the context of the aggregate demand-aggregate supply (AD-AS) model, an economy-wide improvement in management skills would cause 0 a. the aggregate demand curve to shift to the right O b.the aggregate demand curve to shift to the left 0 c. the long-run aggregate supply curve to shift to the right O d.the long-run aggregate supply curve to shift to the left QUESTION 8 10 palms Save Answer In the long run, an increase in productivity would cause output to and the aggregate price level to O a.fa||; rise 0 b.fa||; fall 0 c. rise; fall 0 d.rise; rise QUESTION 9 10 points Save Answer Fiscal policy can increase aggregate by increasing 0 .3. Demand; Government purchases 0 b. Demand; Private investment 0 c. Demand; Private consumption 0 d. Supply; Government purchases 0 e. Supply; Private investment 0 f. Supply: Private consumption Click Save and Submit to save and submit. Click Save All Amuers to save all answers. Save All Answers