Question

Question 36 1 pts

Assuming variable output prices, a decrease in aggregate demand will decrease (HINT: AS curve is upward sloping)

Group of answer choices

the price level & increase the real domestic output.

both real output & the price level.

the real domestic output & no impact on the price level.

the price level & have no effect on real domestic output.

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Question 37 1 pts

A leftward shift of the AS curve:

Group of answer choices

would increase output supplied at all price levels.

could be caused by an increase in the overall price level.

would result in both a higher price level and a lower level of output

could be caused by a decrease in input prices (a positive supply shock).

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Question 38 1 pts

A leftward shift of the AS curve is often associated with:

Group of answer choices

the stagflation of the 1970's.

demand-pull inflation of the "Vietnam era" of the 1960's.

the stock market crash of 1987.

the Great Depression.

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Question 39 1 pts

The inexplicable disappearance of the typically abundant harvest of anchovies off the coast of Peru contributed to the stagflation of the 1970's.

Group of answer choices

strange, but true

oh, c'mon, now you're just making things up: false

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Question 40 1 pts

Which of the following is not a tool of fiscal policy?

Group of answer choices

taxes

the money supply (more specifically, interest rates).

government purchases

unemployment insurance

All are "tools of fiscal policy."

Answer 1