Question : 61) The baby boomers born in the 1940s and 1950s : 1227973

 

 

61) The baby boomers born in the 1940s and 1950s began entering the work force in the 1960s and 1970s . This demographic event ________ the natural unemployment rate, thereby shifting the short-run Phillips curve ________ and shifting the long-run Phillips curve ________.

A) increased; rightward; rightward

B) decreased; leftward; leftward

C) increased; rightward; leftward

D) increased; leftward; rightward

E) decreased; rightward; rightward

62) The shifts of the short-run and long-run Phillips curves in the figure above are the result of

A) an increase in the natural unemployment rate.

B) a decrease in the natural unemployment rate.

C) an increase in the expected inflation rate.

D) a decrease in the expected inflation rate.

E) an increase in the actual inflation rate.

 

63) When inflation expectations changed during the 1967-1971 period, this change led to

A) the long-run Phillips curve shifting rightward.

B) the short-run Phillips curve shifting upward.

C) an increase in the natural unemployment rate.

D) the short-run and the long-run Phillips curve both shifting upward.

E) the long-run Phillips curve shifting leftward.

64) The short-run Phillips curve tradeoff becomes less favorable if either

A) the expected inflation rate increases or the natural unemployment rate decreases.

B) the expected inflation rate or the natural unemployment rate increases.

C) potential GDP or the natural unemployment rate increases.

D) the level of real GDP decreases or the natural unemployment rate decreases.

E) potential GDP or the natural unemployment rate decreases.

 

65) The long-run Phillips curve is the relationship between

A) unemployment and the price level at full employment.

B) unemployment and the inflation rate at the expected price level.

C) inflation and real GDP at full employment.

D) inflation and unemployment when the economy is at full employment.

E) inflation and the expected inflation rate.

 

66) The long-run Phillips curve is

A) upward sloping.

B) downward sloping.

C) horizontal.

D) vertical.

E) upside-down U-shaped

 

67) The inflation rate that is used to set the money wage rate and other money prices is the

A) natural inflation rate.

B) actual inflation rate.

C) expected inflation rate.

D) cost of living inflation rate.

E) wage inflation rate.

68) When the expected inflation rate ________, the short-run Phillips curve ________.

A) falls; shifts upward

B) rises; shifts upward

C) rises; shifts downward

D) falls; does not shift

E) rises; might shift upward or downward depending on how the long-run Phillips curve shifts

 

69) The natural rate hypothesis states that

A) only natural economic policies can bring a permanent reduction in the unemployment rate.

B) changes in the inflation rate temporarily change the unemployment rate.

C) it is natural for the unemployment rate to exceed the inflation rate.

D) it is natural for the unemployment rate to be less than the natural unemployment rate.

E) changes in the inflation rate temporarily change the natural unemployment rate.

 

70) If the natural unemployment rate decreases, then the short-run Phillips curve ________ and the long-run Phillips curve ________.

A) does not shift; shifts leftward

B) shifts leftward; shifts leftward

C) shifts rightward; shifts leftward

D) shifts rightward; shifts rightward

E) shifts leftward; does not shift

71) The natural unemployment rate

A) increases when job search increases.

B) never changes.

C) always increases.

D) decreases when the inflation rate rises.

E) increases when the expected inflation rate rises.

 

 

 

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