Economics

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purpletortoise344Lv1

6 Oct 2020

Which of the following can create demand-pull inflation?

a. excessive aggregate spending.

b. sharply rising oil prices

c. higher labor costs.

d. recessions and depressions

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manhokwe tawandaLv10

7 Jan 2021

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Related questions

1. Discretionary fiscal policy refers to:

A. Any change in government spending or taxes that destabilizes the economy.

B. The authority that the President has to change personal income tax rates.

C. Intentional changes in taxes and government expenditures made by Congress to stabilize the economy.

D. The changes in taxes and transfers that occur as GDP changes.

2. Countercyclical discretionary fiscal policy calls for:

A. Surpluses during recessions and deficits during periods of demand-pull inflation.

B. Deficits during recessions and surpluses during periods of demand-pull inflation.

C. Surpluses during both recessions and periods of demand-pull inflation.

D. Deficits during both recessions and periods of demand-pull inflation.

3. Contractionary fiscal policy is so named because of it:

A. Involves a contraction of the nation's money supply.

B. Necessarily reduces the size of government.

C. Is aimed at reducing aggregate demand and thus achieving price stability.

D. Is expressly designed to expand real GDP.

brownsea-lion330

Demand-pull inflation is caused by

A. Wage increases that are higher than productivity growth.

B. High levels of aggregate demand in the short run.

C. An increase in aggregate supply that pulls up both output and the price level.

D. Recession.

E. An increase in the costs of production, which pulls prices higher.

sapphirejackal278

6. To study the macroeconomy we must combined prices and quantities generated in single-product markets into broad aggregates.

a)	True
b)	False

7. An economist who favored expanded government would recommend:

a)	tax cuts during recession and tax increases during inflation
b)	tax increases during recession and tax cuts during inflation.
c)	tax cuts during both recession and inflation
d)	increases in government spending during a recession and tax increases during inflation.
e)	tax cuts during recessions and reduction in government spending during inflation.

8. If Government tax revenue exceeds Government spending the result of the budget is

a)	an increase in investment
b)	a shortage
c)	an increase in the deficit
d)	a decrease in savings
e)	a surplus

9. Which of the following statements is true?

a)	In the US economy, the net export sector is positive.
b)	Aggregate demand is the sum of total output produced by all firms in the US.
c)	The aggregate supply curve is vertical if the price level is equal to the per-unit cost of production
d)	Aggregate production sums up the four major components C+I+G+Xn in the US economy.
e)	Government spending is the largest component of aggregate demand.

10. Which of the following statements is true?

	a) When unemployment is rising then real GDP is rising.
b)	The required reserve ratio is a tool used by the government to control the demand for money.
c)	The four components of aggregate supply are the same as aggregate demand.
d)	when an imported resource such as oil has decreased that is an increase in aggregate demand.
e)	The four components of aggregate demand---Households, Business, Government, and Net Exports.