UMUC ECON 201 ECON201 ECON/201 Homework 5 Answers
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ECON 201 Principles of Macroeconomics Homework 5 Answers (2017)
________________ economists place an emphasis on __________ run economic performance.
The Keynesian view of economics assumes that:
Which of the following government policies would be supported by neoclassical macroeconomic assumptions?
In the long-run neoclassical view, when wages and prices are flexible, ________________________ determine the size of real GDP.
The neoclassical perspective on macroeconomics emphasizes that in the long run, the economy seems to rebound back to its _____________ and its ____________________.
The shape of the ______________ involves a tradeoff between unemployment and inflation.
In the neoclassical version of the AD/AS model, which of the following should you use to represent the AS curve?
In the neoclassical model, the AS curve shifts to the right over time as_______________________ and potential GDP expands.
Suppose that a rise in business confidence has led to more investment in the economy and higher levels of output. In the short-run Keynesian analysis, the rise in aggregate demand will:
The theory of _____________________ holds that people will use all information available to them to form the most accurate possible expectations about the future. v
At a macroeconomic level, the theory of rational expectations points out that if the ______________________ is vertical over time, then people should rationally expect this pattern.
Referring to the diagram, complete the following sentence: Any increase in aggregate demand in the short-run will lead
What is the name given to the macroeconomic equation MV = PQ?
When the central bank decides to increase the discount rate, the:
Which of the following institutions determines the quantity of money in the economy as its most important task?
Which of the following is described as an innovative and nontraditional method used by the Federal Reserve to expand
the quantity of money and credit during the recent U.S. recession?
If the economy is in recession with high unemployment and output below potential GDP, then __________________ would cause the economy to return to its potential GDP?
Regardless of the outcome in the long run, ______________________ always has the effect of stimulating the economy in the short run.
When the central bank decides it will sell bonds using open market operations:
________________________ will often cause monetary policy to be considered counterproductive because it makes it hard for the central bank to know when the policy will take effect?
The Central Bank has raised its reserve requirements from 10% to 12%. If Southern Bank finds that it is not holding enough in reserves to meet the higher requirements, then it will likely:
A central bank that wants to increase the quantity of money in the economy will:
A central bank that desires to reduce the quantity of money in the economy can:
Central Bank policy requires Northern Bank to hold 10% of its deposits as reserves. Northern Bank policy prevents it from holding excess reserves. If the central bank purchases $30 million in bonds from Northern Bank what will be the result?
If nominal GDP is 1800 and the money supply is 450, then what is velocity?
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