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.Management Sciences
Category: Aggregate Supply, Unemployment And Inflation
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
one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
A. quickly
B. slowly
C. very infrequently
D. instantly
If a person thinks they are better off after a 10% wage increase, and all prices have risen 10% then they are experiencing ?
A. inflation
B. a supply shock
C. crowding out
D. inflation illusion
The expectations augmented Phillips curve was the Work of which group of economists ?
A. New classical economists
B. Keynesian.
C. Monetarists
D. Marxists.
When economists use the term real business cycle theory they are suggesting that business cycles are caused by ?
A. Shifts in aggregate supply
B. changes in export demand due to the state of the world economy
C. business confidence
D. business expectations
All the following are types of monetary policy expect ?
A. a nominal money stock target
B. a balanced budget
C. an inflation target
D. The pursuit of a target real interest rate
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