11/14/2016 ANS:BDIF:DifficultTOP:AdjustingtoaRecessionaryGap:MBA503A

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Ans:bdif:difficulttop:adjustingtoa
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Unemployment?91.Arecessionarygapexistswhena.realGDPexceedsnominalGDP.b.nominalGDP
exceedsrealGDP.c.realGDPexceedspotentialGDP.d.potentialGDPexceedsrealGDP.ANS:DDIF:
ModerateTOP:AdjustingtoaRecessionaryGap:DeflationorUnemployment?92.Recessionarygapsusually
leadtoa.structuralunemployment.b.cyclicalunemployment.c.seasonalunemployment.d.frictional
unemployment.ANS:BDIF:ModerateTOP:AdjustingtoaRecessionaryGap:DeflationorUnemployment?93.
Arecessioncanbeexpectedtoreduceinflationintheeconomyiftherecessioniscausedbya(n)a.increasein
aggregatedemand.b.increaseinaggregatesupply.c.decreaseinaggregatedemand.d.decreaseinaggregate
supply.ANS:CDIF:ModerateTOP:AdjustingtoaRecessionaryGap:DeflationorUnemployment?94.One
complicationintheprocessofreducinginflationbycreatingrecessionsisthatthepricelevela.adjustsmore
quicklytorecessionarygapsthantoinflationarygaps.b.doesnotapplyasitdoesininflationarygaps.c.always
rises.d.rarelyfalls.ANS:DDIF:ModerateTOP:AdjustingtoaRecessionaryGap:DeflationorUnemployment?
95.Ifthepriceleveldoesnotfalloronlyfallsveryslowly,thentheresultwillbeaprolongedperiodofa.inflation
wheneversupplyincreases.b.productionbelowpotentialGDP.c.productionabovepotentialGDP.d.rapidprice
increaseswhendemandchanges.Chapter17SupplysideEquilibrium:UnemploymentandInflation?575ANS:B
DIF:ModerateTOP:AdjustingtoaRecessionaryGap:DeflationorUnemployment?96.WhenequilibriumGDP
isbelowpotentialGDP,jobsarea.plentifulandunemploymentislow.b.plentifulandunemploymentishigh.c.
scarceandunemploymentishigh.d.scarceandunemploymentislow.ANS:CDIF:ModerateTOP:Adjustingto
aRecessionaryGap:DeflationorUnemployment?97.Mosteconomistsagreethattheeconomywilladjusttoa
recessionarygap,buttheadjustmentprocessa.israpidanddestabilizing.b.ismoderatelyquick,butnotas
rapidasnecessary.c.takesplacesolelyonthesupplyside.d.isveryslow.ANS:DDIF:ModerateTOP:
AdjustingtoaRecessionaryGap:DeflationorUnemployment?98.ThepostWorldWarIIrecordshowsthat
recessionarygapsmaybelonglastingbecause____tendsnottooccur.a.deflationb.reflationc.stagflationd.
disinflationANS:ADIF:ModerateTOP:AdjustingtoaRecessionaryGap:DeflationorUnemployment?99.One
complicationthattendstoprolongrecessionarygapsisthatwagesa.arefixedbyunions,whichrepresentnearly
allworkersintheUnitedStates.b.tendtoriserapidly.c.rarelyfall.d.tendtomoveintheoppositedirection
fromprices....
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