Economics Micro & Macro (CliffsAP)
Free-Response Answers and Explanations A.There are two ways to handle this solution. If you drew either of the following graphs ...
C.The monetary policy that is appropriate in this situation is restrictive monetary policy. For example, selling government bond ...
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Macroeconomics Full-Length Practice Test 2 Section I ■ 60 multiple choice questions 70 minutes Section II ■ 1 long free-response ...
How can commercial banks increase the money supply? A. By transferring funds to the Federal Reserve B. By buying bonds from the ...
According to Keynesians, what will an increase in spending and a decrease in taxes do to consumption and unemployment? A. A de ...
18. Question 18 refers to the following graph. According to the graph above, which of the following will result in a decrease in ...
Which of the following best describes why the aggregate supply curve is horizontal over a certain range? A. Higher price levels ...
If current unemployment is at 10 percent and the price level is stable, what would a Keynesian recommend? A. An increase in int ...
Which of the following best describes comparative advantage? A. When one country can produce a good or service at a cheaper pri ...
What does point F represent? A. An unattainable point B. Underutilization C. Trade-offs D. Opportunity cost E. Where firms can ...
Macroeconomics Section II: Free-Response Questions Directions: You have one hour to answer all three free-response questions: on ...
Multiple-Choice Answers and Explanations D.D is the only answer that describes efficiency. All other possible choices are inter ...
16. D. More efficient production of the traded goods will result because of specialization. Countries that specialize will conce ...
B.The CPI is used to measure the price level. It examines a particular amount of goods, called a market basket, to reveal any c ...
B.When inflation is unanticipated, borrowers benefit because the value of what they owe is actually decreasing as a result of i ...
Free-Response Answers and Explanations A.The main problem in this scenario is inflation. At a 7-percent rise in the price level ...
A.Refer to the following illustration: B.Two ways of calculating GDP are the expenditure approach and the income approach. The ...
Determinants of Aggregate Supply: ■ Resource prices ■ Technology ■ Government (subsidies and taxes) ■ Number of suppliers A.If ...
Microeconomics Full-Length Practice Test 1 Section I ■ 60 multiple choice questions 70 minutes Section II ■ 1 long free-response ...
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