the economics of money, banking, and financial markets

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8. 
   

   The increase in energy prices that occurred in 2007 - 2008 led to a ____ in the ____
   aggregate supply curve.
   A) fall; short run
   B) fall; long run
   C) rise; short run
   D) rise; long run
   Answer: A
   Diff: 2 Type: MC Page Ref: 598
   Skill: Recall
   Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
   of aggregate output and the inflation rate

   
   


9. 
   

   The Lehman Brothers bankruptcy caused a ____ ____ shock.
   A) negative; demand
   B) negative; supply
   C) positive; demand
   D) positive; supply
   Answer: A
   Diff: 2 Type: MC Page Ref: 598
   Skill: Recall
   Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
   of aggregate output and the inflation rate

   
   


10. 
    

    Prior to the financial crisis in 2007 - 2008, the Chinese economy was growing at ____
    per year.
    A) 10 percent
    B) 15 percent
    C) 20 percent
    D) 25 percent
    Answer: C
    Diff: 2 Type: MC Page Ref: 598
    Skill: Recall
    Objective List: 24.1 Interpret the aggregate demand and supply framework for the determination
    of aggregate output and the inflation rate