Question : 6) In the United States during the 1970s, the unemployment : 1240606

 

6) In the United States during the 1970s, the unemployment rate rose from previous years, and the inflation rate increased rapidly. This set of events is best described by saying that the

A) economy moved to a lower point on its short-run Phillips curve but the short-run Phillips curve did not shift.

B) short-run Phillips curve shifted downward.

C) short-run Phillips curve shifted upward.

D) economy moved to a higher point on its short-run Phillips curve but the short-run Phillips curve did not shift.

E) the long-run Phillips curve shifted leftward.

 

7) In the United States during the late 1990s, the unemployment rate fell from previous years and the inflation rate was lower than in previous years. This set of events is best described by saying that the

A) economy moved to a lower point on its short-run Phillips curve but the short-run Phillips curve did not shift.

B) short-run Phillips curve shifted downward.

C) short-run Phillips curve shifted upward.

D) economy moved to a higher point on its short-run Phillips curve but the short-run Phillips curve did not shift.

E) long-run Phillips curve shifted rightward.

8) Which of the following could create a movement along the short-run Phillips curve so that the unemployment rate temporarily falls below the natural unemployment rate?

A) an increase in aggregate demand and a sticky wage rate

B) a decrease in aggregate demand and a sticky wage rate

C) an increase in aggregate demand and a quickly responsive wage rate

D) a decrease in aggregate demand and a quickly responsive wage rate

E) an increase in aggregate supply and a sticky wage rate

 

9) Along a given ________ Phillips curve, a lower unemployment rate can be achieved only by paying the cost of a ________ inflation rate, and a lower inflation rate can be achieved only by paying the cost of a ________ unemployment rate. 

A) short-run; higher; higher

B) short-run; higher; lower

C) short-run; lower; higher

D) long-run; higher; higher

E) long-run; higher; lower

 

10) If ________ GDP exceeds ________  GDP, employment exceeds its full-employment level and the unemployment rate is ________ the natural unemployment rate.

A) real; potential; below

B) real; potential; above

C) nominal; potential; below

D) nominal; potential; above

E) real; nominal; below

11) If real GDP is ________ than potential GDP, employment is ________ than its full-employment level and the unemployment rate rises ________ the natural unemployment rate. 

A) less; more; above

B) more; more; above

C) less; less; above

D) less; less; below

E) more; less; above

 

12) The natural rate hypothesis asserts that in the ________, the money wage rate is fixed and the ________ in the inflation rate brings a(n) ________ in the unemployment rate.

A) short-run; decrease; increase

B) short-run; decrease; decrease

C) long-run; increase; decrease

D) short-run; increase; decrease

E) short-run; increase; increase

 

13) If the inflation that results from targeting unemployment becomes unacceptably high, low inflation can be restored. Lower inflation can be obtained by ________ the growth rate of aggregate demand, by ________ money growth, and by________ interest rates.

A) lowering; slowing; lowering

B) lowering; accelerating; raising

C) lowering; accelerating; lowering

D) raising; slowing; raising

E) lowering; slowing; raising

14) If the Fed can ________ inflation expectations, it might achieve ________ inflation without ________ the unemployment rate. 

A) raise; higher; lowering

B) lower; lower; lowering

C) lower; lower; raising

D) lower; higher; lowering

E) raise; lower; raising

 

15) If the Fed decides that it wants to lower the unemployment rate, it ________ the growth rate of aggregate demand by ________ the growth rate of money and ________ interest rates. 

A) reduces; accelerates, lowering

B) accelerates; reducing; lowering

C) accelerates; reducing; raising

D) accelerates; accelerating; lowering

E) accelerates; accelerating; raising

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more