To ensure the best experience, please update your browser.Does not tell us whether what has happened is unexpectedly bad or unexpectedly goodInflation refers to an increase in the overall level of pricesThe period known as the "Industrial Revolution" began in the United States in the late 1800'sWhich of the following is the best example of financial investmentIf prices of goods and services quickly adjust to demand shocks thenFirms would find it easier to produce at their optimal output ratesWhen prices are inflexible the economy will respond to demand shocks through short run changes in output and unemploymentMacroeconomics is primarily concerned with studying two broad topicsLong-run economic growth and short-run business cyclesThe economy will respond to demand shocks primarily through changes in output and employmentUnder modern economic growth the annual average increase in output per person isShort-run fluctuations in output and employment are referred to asResources are devoted toward increasing future outputEconomists are in general agreement as to what caused the Great Recession and how to properly deal with itBetween 2007 and 2009 the unemployment rate in the U.S.Economic investment refers to the creation and expansion of business enterprisesWhich of the following is NOT a factor that increases short-run price stickiness?A firm can lower its price without fear that rival firms will also lower their pricesWhich of the following is the best example of investment as defined by economists?A restaurant owner buys a freezer to store ingredients for the restaurant mealsRefer to the graphs above. If nominal GDP grew by 5 percent and real GDP grew by 3 percent, then the GDP deflator grew by approximately ______ percent. Which of the following markets is most likely to exhibit extremely flexible prices? Suppose a firm is currently producing 500 computers per week and charging a price of $1000. Price wars: A. Suppose a firm is currently producing 500 computers per week and charging a price of $1000. D) magazine publishers tend to change their newsstand prices only every three or four years.
In year 2, 12,000 MP3 players are produced and sold at a price of $80 each. We could expect that, in the futureSuppose that inventories are falling. Which of the following is an explanation for price stickiness? B) the sticky-price model describes the equilibrium toward which the economy slowly gravitates. Which of the following statements about price stickiness orflexibility is true? What happens to the firm's inventory of computers if there is a negative demand shock and prices are inflexible?The firm's inventories will increase by 200 computers per weekRefer to the graph above. D) some capital lies idle and some labor is unemployed. Which of the following best represents a positive demand shock when prices are flexible?Refer to the graph above. 22. If GDP (measured in billions of current dollars) is $5,465, consumption is $3,657, investment is $741, and net exports are –$1,910, then government purchases are: 10. In year 1, 10,000 MP3 players are produced and sold at a price of $100 each. How will the firm respond to a positive demand shock if prices are inflexible?The firm will increase production to 650 computers per week and charge a price of $1000Economists believe that most short-run fluctuations are the result of supply shocks.What impact will a negative supply shock have on the main measures of economic performance?Real GDP will decrease, inflation will increase, and unemployment will increaseWhich of the following groups is the principal source of savings in an economy?What impact will a negative demand shock have on the main measures of economic performance?Real GDP will decrease, inflation will decrease, and unemployment will increaseRefer to the graphs above. Stickiness is a theorized condition in the market and can apply to more areas than wages alone. 4 hours ago For which of the following goods is the price least likely to be flexible? Price wars: A. Which of the following best represents a positive demand shock when prices are flexible?Real GDP can change due to changes in the price level.Complicated by the fact that the future is uncertainIf prices of goods and services are inflexible then:A positive demand shock would lead to increased real GDP in the short runSharply rising oil prices are most likely to lead to a:Which among the following countries had the highest GDP per person in 2011?Economists believe that most short-run fluctuations:One major reason for sticky prices could be that firms selling final goods and services do not want to annoy customers with frequently changing prices.If prices are inflexible then a negative demand shock will lead to:Suppose that inventories are falling. Consumption depends ______ on disposable income, and investment depends ______ on the real interest rate.
B) the popularity of the incumbent president rises. If an earthquake destroys some of the capital stock, the neoclassical theory of distribution predicts: d. the real wage will fall and the real rental price of capital will rise. 80.
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