Eco 405 Chap 13 quiz\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 1\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd Which of the following best describes when the economy is experiencing inflation? When\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 2\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd Technological change in an industry that historically required specific labor skills will lead to\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 3\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 4\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effect\tof inflation?\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 5\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 6\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd Which price index is also known as the cost-of-living index?\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 7\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd The psychological law of consumption tells us the marginal propensity to consume will be\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 8\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd The effects of inflation on the distribution of income are called\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 9\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd In the circular flow diagram, economic units are classified as\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 10\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd Aggregate demand\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \u00a0\tQuestion 11 \ufffd\u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd The Phillips curve depicts the relationship between\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 12\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd The determinants of aggregate supply are\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 13\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd Which of the following is most likely be hurt by inflation?\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 14\t4 out of 4 points\t \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd People who are unemployed due to a downturn in economic activity are classified in the category of\tAnswer \ufffd \ufffd \ufffd \ufffd \ufffd\u00a0\u00a0\u00a0\u00a0 \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \ufffd \u00a0\t“\ufffd \ufffd \ufffd\u00a0\u00a0 Question 15\t4 out of 4 points<\/p>\n","protected":false},"excerpt":{"rendered":"
Eco 405 Chap 13 quiz “\ufffd \ufffd \ufffd\u00a0\u00a0 Question 1 4 out of 4 points \ufffd \ufffd \ufffd \u00a0 \ufffd \ufffd \ufffd Which of the following best describes when the economy is experiencing inflation? When Answer \ufffd \ufffd \ufffd \ufffd Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-210746","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/210746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=210746"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/210746\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=210746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=210746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=210746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}