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Phillips Curve Review

Authored by Charlotte Anderson

Social Studies

10th Grade

Used 7+ times

Phillips Curve Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following policy combinations will be the most effective in closing a recessionary gap?

decreasing administered interest rates; increasing income taxes

decreasing administered interest rates; increasing government spending

increasing cash reserve ratio; decrease income taxes

sell government bonds; increase government spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Phillips curve shows what type of relationship between inflation and unemployment?

inverse

positive

parabolic

symmetric

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is crowding out?

An decrease in consumption due to higher interest rates from expansionary fiscal policy.

A decrease to net exports due to higher interest rates from expansionary fiscal policy.

A decrease to investment due to higher interest rates from expansionary fiscal policy.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the Long-Run Phillips curve, which of the following is true?

The natural rate of unemployment is independent of inflation

Unemployment increases with an increase in inflation

Unemployment decreases with an increase in inflation

Unemployment decreases with a decrease in inflation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When government spending causes an increase in real interest rates,

gross private domestic investment will not change

gross private domestic investment will experience crowding out

gross private domestic investment will increase and cause economic growth

gross private domestic investment will increase the amount of capital stock in an economy

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

A decrease in interest rates resulting in the increase in capital stock will likely cause which of the THREE following in the long run?

Decrease in AD

Increase in AD

Decrease in SRAS

Increase in SRAS

Increase in LRAS

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following causes movement along the short run Phillips curve?

Any changes to aggregate supply.

Any changes to aggregate demand.

Any changes in frictional or structural unemployment

All of the above

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