ECON 162 Binghamton University Macroeconomic Questions

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Description

  1. a.
    b. there is no money illusion.
    c. wages may be sticky so that involuntary unemployment may exist in labor markets.
    d. supply creates its own demand.
    e. none of the above

1 points

QUESTION 2

  1. Compared to the Keynesian model, the classical model
    a. is a demand-side model.
    b. is a supply-side model.
    c. believes that government intervention is necessary in times of recession.
    d.

    was dominant after the Great Depression
    e. believes that nominal variables are relevant in economic decision making.

1 points

QUESTION 3

  1. In the Keynesian model, an increase in income will lead to an increase in consumption spending.

1 points

QUESTION 4

  1. In the classical model, output adjusts to spending.

1 points

QUESTION 5

  1. Suppose that the MPC is equal to 0.8 and autonomous consumption spending is 400. Then the consumption function is given by
    a. C = 400 – 0.8Yd
    b. C = -400 + 0.2Yd
    c. C = 320 x Yd
    d. C = 400 + 0.8Yd
    e. C = 400 + 0.2Yd
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