Which MOST likely will increase unemployment in the short run? a. a positive supply shock b. a positive demand shock c. expansionary fiscal policy d.stagflation
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- When the economy goes into a recession. real GOP---- and unemployment ___ .a. rises, risesb. rises, fallsc falls. risesd. falls, fallsWhich fiscal policy is meant to decrease aggregate demand? a. Divisionary b. Built in c. Expansionary d. ContractionaryBy decreasing government spending and aggregate demand, the policy ________ the price level and ________ equilibrium real GDP, ceteris paribus. Select one: a. decreases; increases b. increases; decreases c. increases; increases d. decreases; decreases
- During recessions, taxes tend to a. rise and thereby increase aggregate demand. b. fall and thereby decrease aggregate demand. c. fall and thereby increase aggregate demand. d. rise and thereby decrease aggregate demand.Price Level Use this Figure to answer the following question LRAS PL₂ PL₁ Pho DE O a E₁ O b. Ej OC E₂ O d. Ez ₂ SRAS₁ SRASO AD₁ ADO Y, YY₁ RGDP Refer to the figure. If there is a positive cyclical unemployment, what will the new long-run equilibrium be if the government used a fiscal policy?Which fiscal policy expects the economy to self-adjust? O balanced budget O counter-cyclical O business cycle O cyclically balanced ante changes to this answer
- 16 Keynesian economists argue that facing an economic recession. and are the surest way to ensure full employment, especially when A government spending increases; tax cuts B government spending cuts; tax increases DELL 女 @ # & 2 3 4 6. 7 8 e y d. h j k m ba C3Someone answer this question ASAP without explanantionA tax cut shifts aggregate demand A. by less than the tax cut. B. by the same amount as the tax cut. C. None of the options are correct. D. by more than the amount of the tax cut.Price Level p* a LRAS Y* AD Real GDP AS Tools Fiscal Action 0 a. How does the short-run equilibrium compare to the initial equilibrium? The price level has (Click to select) and output has [(Click to select) b. What is the primary concern of policy makers under these conditions? high unemployment O declining value of the dollar O high Inflation V c. What policy action might the government take in order to improve economic conditions? (Click to select) fiscal policy by [(Click to select) taxes and/or (Click to select)government purchases d. Use the graph above to depict the goal of the fiscal action discussed Instructions: Use the tool provided 'Fiscal Action' to show the result of the policy action taken by the government. Plot only the endpoints of the line (2 points total). Label your line appropriately. e. What is the desired final outcome after the fiscal policy action and multiplier effect have occurred? A price level [(Click to select) P* and an output level [(Click to select) Y*…
- If taxes are lowered, we can expect supply-side economists to support the decision to do so because a. government revenues will increase in the long run. b. government spending will decrease in the long run. c. the government will spend more in the short run. d. economic growth cannot occur without it.If the economy is in a recessionary period how, specifically, might the government use their three tools? three tools change the tax rate change the level of govertment spending change transfer paymentsThe accompanying diagram shows the current macro- economic situation for the economy of Albernia. You have been hired as an economic consultant to help the economy move to potential output, Yp. Aggregate price level LRAS SRAS P1 E1 AD1 Real GDP Yp- Potential output a. Is Albernia facing a recessionary or inflationary gap? b. Which type of fiscal policy-expansionary or contractionary-would move the economy of Albernia to potential output, Yp? What are some examples of such policies? c. Illustrate the macroeconomic situation in Albernia with a diagram after the successful fiscal policy has been implemented.
