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.Management Sciences
Category: Aggregate Supply, Unemployment And Inflation
The natural rate of unemployment is generally thought to be the sum of ?
A. frictional unemployment and seasonal unemployment
B. frictional unemployment and cyclical unemployment
C. frictional unemployment and structural unemployment
D. cyclical unemployment and structural unemployment
In the events of an increase in the international price of oil that encouraged the central bank to accept lower real interest rates, inflation would most likely ?
A. fall
B. increase
C. remain the same
D. fluctuates
At the intersection of AD and AS equilibrium is achieved in ?
A. the goods market
B. the money markets
C. the labor markets
D. all of these
The Short run Phillips curve can shift in response to changes in ?
A. Inflationary expectations
B. unemployment
C. the inflation rates
D. wage rates
The quantity theory of money says that changes in ____lead to equivalent changes in ____ but have no effect on ______?
A. prices, wages, output and employment
B. output prices, employment
C. nominal money, the price level, output and employment
D. nominal money output prices
An advocate of the classical model of the economy would claim that unemployment is created when the ____ is above its equilibrium level in the ______?
A. price level, aggregate economy
B. tax rate, government budget
C. wage rate, labor market
D. interest rate, market for loanable funds
We would normally expect the size of the labor force to be _____ than the number or workers willing to accepts job offers at any real wage rate ?
A. Smaller
B. Larger
C. the same size
D. None of these
The equilibrium rate of unemployment at any real wage, is the difference between ______ and ______?
A. those willing to work at the going wage labour demand
B. labour demand those willing to work at the going wage
C. labor demand, labor supply
D. those willing to work at the going wage labor supply
The costs of inflation are ?
A. shoe leather costs
B. menu costs
C. income redistribution
D. uncertainly
E. all of the above
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