ECON 312 Final Exam

Aug 6th, 2016
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Question 1. 1. (TCO 5) An increase in aggregate demand is most likely to be caused by a decrease in (Points : 4) the wealth of consumers. consumer and business confidence. expected returns on investment. the tax rates on household income. Question 2. 2. (TCO 5) The long-run aggregate supply curve is (Points : 4) upward-sloping and becomes steeper at output levels above the full-employment output. upward-sloping and becomes flatter at output levels above the full-employment output. horizontal. vertical. Question 3. 3. (TCO 5) Which would most likely increase aggregate supply? (Points : 4) An increase in the prices of imported products An increase in productivity A decrease in business subsidies A decrease in personal taxes Question 4. 4. (TCO 5) Disinflation refers to a situation where (Points : 4) price level falls, but the rate of inflation does not. Price level rises, but the rate of inflation does not. the rate of inflation falls, but the price level does not. the

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ECON 312 Final ExamQuestion 1. 1. (TCO 5)An increase in aggregate demand is most likely to be caused by a decrease in (Points : 4)the wealth of consumers.consumer and business confidence.expected returns on investment.the tax rates on household income.Question 2. 2. (TCO 5) The long-run aggregate supply curve is (Points : 4)upward-sloping and becomes steeper at output levels above the full-employment output.upward-sloping and becomes flatter at output levels above the full-employment output.horizontal.vertical.Question 3. 3. (TCO 5) Which would most likely increase aggregate supply? (Points : 4)An increase in the prices of imported productsAn increase in productivityA decrease in business subsidiesA decrease in personal taxesQuestion 4. 4. (TCO 5) Disinflation refers to a situation where (Points : 4)price level falls, but the rate of inflation does not.Price level rises, but the rate of inflation does not.the rate of inflation falls, but the price level does not.the rate of inflation rises, but the price level does not.Question 5. 5. (TCO 6) If a familys MPC is .7, it means that the family is (Points : 4)operating at the break-even point.spending seven-tenths of any additional income.necessarily dissaving.spending 70 percent of its disposable income.Question 6. 6. (TCO 7) Which definition(s) of the money supply include(s) only items which aredirectly and immediately usable as a medium of exchange? (Points : 4)M1M2Neither M1 nor M2M1 and M2Q

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