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.Management Sciences
Category: Aggregate Supply, Unemployment And Inflation
The AD schedule indicates that _______ inflation is associated with ________ output?
A. higher, lower
B. higher, higher
C. lower, lower
D. zero, zero
Governments may contribute to inflationary pressure because of building up large ?
A. numbers of employees
B. welfare plans
C. budget deficits
D. expenditures
The classical view of the labor market is basically consistent with the assumption of _________ aggregate supply curve?
A. a vertical (or almost vertical)
B. a downward sloping
C. a horizontal (or almost horizontal)
D. an upward sloping
Even though explicit contracts may lead to layoffs during recessions explicit contracts may still be efficient because such contracts ?
A. minimize negotiation costs
B. minimize unemployment effects
C. guarantee that only the least productive workers will be laid off.
D. will equitable spread the layoffs among junior and senior workers
Policies to reduce unemployment by reducing union power, tax cuts, reductions in unemployment benefit and investment subsidies are examples of ?
A. Keynesian policies
B. Supply-side policies
C. Monetarist Policies
D. Classical policies
Doubts about the natural and the existences of the Phillips curve arose in the 1970s when the economy experienced ?
A. a high rate of inflation: along with a low rate of unemployment
B. simultaneously low rates of inflation and unemployment
C. simultaneously high rates of inflation and unemployment
D. a high rate of unemployment along with a low rate of inflation
If somebody is prepared to work at the going wage rate but cannot find work then they are victims of ?
A. voluntary unemployment
B. classical unemployment
C. voluntary unemployment
D. Frictional unemployment
During Periods of rising inflation and rising interest rates we expect the demand for real cash to ?
A. rise
B. fall
C. not changes
D. fluctuates
The Phillips curve indicates that there is a ?
A. negative relationship between the inflation rate and labor demand
B. positive relationship between labor supply and the inflation rate
C. positive relationship between the inflation rate and the employment the
D. negative relationship between the inflation rate and the unemployment rate
The Phillips curve is a graph showing the relationship between ?
A. the price level and the unemployment rate
B. the inflation rate and the unemployment rate
C. the level of aggregate output and the price level
D. the inflation rate and the level of aggregate demand
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