Econ Exam 50 questions similar to ones below . need expert in Econ(Money and Banking)

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Question 1
2 / 2 pts
Menu costs of inflation are costs arising from<br>
Menu costs of inflation are costs arising from
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 2
2 / 2 pts
Expansionary shifts of the aggregate demand curve<br>
Expansionary shifts of the aggregate demand curve
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Question 3
2 / 2 pts
Despite its costs, governments typically resist eliminating inflation because<br>
Despite its costs, governments typically resist eliminating inflation because
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 4
0 / 2 pts
According to new Keynesians, which of the following is NOT an important source of price stickiness?<br>
According to new Keynesians, which of the following is NOT an important source of price stickiness?
 
 
 
You Answered
 
 
 
 
 
 
Correct Answer
 
 
 
 
 
 
Question 5
0 / 2 pts
In the quantity theory of money demand,<br>
In the quantity theory of money demand,
 
 
 
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Correct Answer
 
 
 
 
 
 
Question 6
2 / 2 pts
Which of the following best describes a price taker?<br>
Which of the following best describes a price taker?
 
 
 
 
 
 
 
 
 
Correct!
 
 
 
 
 
 
Question 7
2 / 2 pts
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that<br>
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
 
 
 
 
 
 
 
 
 
 
 
 
Question 8
2 / 2 pts
Demand-pull inflation results from<br>
Demand-pull inflation results from
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Question 9
0 / 2 pts
Attempts by policymakers to keep the rate of unemployment below the natural rate of unemployment for a sustained period of time will result in<br>
Attempts by policymakers to keep the rate of unemployment below the natural rate of unemployment for a sustained period of time will result in
 
 
 
Correct Answer
 
 
 
 
 
 
 
 
 
Question 10
0 / 2 pts
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to<br>
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to
 
 
 
Correct Answer
 
 
 
You Answered
 
 
 
 
 
 
 
 
 
Question 11
2 / 2 pts
According to the Ricardian equivalence proposition,<br>
According to the Ricardian equivalence proposition,
 
 
 
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
Question 12
2 / 2 pts
New Keynesian and new classical economists agree that<br>
New Keynesian and new classical economists agree that
 
 
 
 
 
 
Correct!
 
 
 
 
 
 
Question 13
0 / 2 pts
Long-term inflation is principally<br>
Long-term inflation is principally
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Correct Answer
 
 
 
 
 
 
 
 
 
 
 
 
Question 14
2 / 2 pts
Real business cycle analysis differs from both the new classical and the new Keynesian analyses in holding that<br>
Real business cycle analysis differs from both the new classical and the new Keynesian analyses in holding that
 
 
 
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
Question 15
0 / 2 pts
A decrease in the willingness or ability of banks to lend has a significant impact on the economy because<br>
A decrease in the willingness or ability of banks to lend has a significant impact on the economy because
Correct Answer
 
 
 
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Question 16
0 / 2 pts
Which of the following central banks continues to emphasize the growth of the money supply in its conduct of monetary policy?<br>
Which of the following central banks continues to emphasize the growth of the money supply in its conduct of monetary policy?
You Answered
 
 
 
Correct Answer
 
 
 
 
 
 
 
 
 
 
 
 
Question 17
2 / 2 pts
An increase in oil prices will shift the short-run aggregate supply curve<br>
An increase in oil prices will shift the short-run aggregate supply curve
 
 
 
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
Question 18
0 / 2 pts
Which of the following will NOT shift the short-run aggregate supply function?<br>
Which of the following will NOT shift the short-run aggregate supply function?
You Answered
 
 
 
Correct Answer
 
 
 
 
 
 
 
 
 
 
 
 
Question 19
2 / 2 pts
The liquidity preference theory emphasizes<br>
The liquidity preference theory emphasizes
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 20
0 / 2 pts
Which of the following is a likely causative factor in the movement of <i>M1</i> velocity during the 1980s?<br>
Which of the following is a likely causative factor in the movement of M1 velocity during the 1980s?
Correct Answer
 
 
 
You Answered
 
 
 
 
 
 
 
 
 
 
 
 
Question 21
2 / 2 pts
According to Keynes, if the interest rate on bond falls, but aggregate income doesn't change,<br>
According to Keynes, if the interest rate on bond falls, but aggregate income doesn't change,
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 22
0 / 2 pts
The existence of cost of living adjustments in many wage contracts<br>
The existence of cost of living adjustments in many wage contracts
 
 
 
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Correct Answer
 
 
 
 
 
 
Question 23
0 / 2 pts
According to the new Keynesian view, upturns and downturns in economic activity<br>
According to the new Keynesian view, upturns and downturns in economic activity
You Answered
 
 
 
 
 
 
Correct Answer
 
 
 
 
 
 
 
 
 
Question 24
2 / 2 pts
A disinflation policy that lacks credibility<br>
A disinflation policy that lacks credibility
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Question 26
2 / 2 pts
Which events made the inflation that began in the late 1960s worse?<br>
Which events made the inflation that began in the late 1960s worse?
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Question 27
0 / 2 pts
The tendency of individuals to hold money to pay for unexpected transactions is known as<br>
The tendency of individuals to hold money to pay for unexpected transactions is known as
 
 
 
Correct Answer
 
 
 
You Answered
 
 
 
 
 
 
 
 
 
Question 28
0 / 2 pts
Which of the following statements is correct?<br>
Which of the following statements is correct?
You Answered
 
 
 
Correct Answer
 
 
 
 
 
 
 
 
 
 
 
 
Question 29
2 / 2 pts
Monetary neutrality refers to the fact that changes in the money supply<br>
Monetary neutrality refers to the fact that changes in the money supply
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 30
0 / 2 pts
The typical firm will find that its payoff to reducing price increases after the announcement of a disinflation policy<br>
The typical firm will find that its payoff to reducing price increases after the announcement of a disinflation policy
Correct Answer
 
 
 
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
Correct Answer
 
 
 
You Answered
 
 
 
 
 
 
Question 32
2 / 2 pts
If in the short run prices did not respond at all to changes in aggregate demand, the short-run aggregate supply curve would<br>
If in the short run prices did not respond at all to changes in aggregate demand, the short-run aggregate supply curve would
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 33
0 / 2 pts
Keynes assumed that the return on money was<br>
Keynes assumed that the return on money was
Correct Answer
 
 
 
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
Question 34
0 / 2 pts
If credit card companies imposed a per purchase charge for using their cards,<br>
If credit card companies imposed a per purchase charge for using their cards,
 
 
 
Correct Answer
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
Question 35
0 / 2 pts
According to New Keynesians, why does an expected change in the money supply affect output in the short run?<br>
According to New Keynesians, why does an expected change in the money supply affect output in the short run?
Correct Answer
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
 
 
 
Question 36
0 / 2 pts
According to Baumol and Tobin, the transactions demand for money is<br>
According to Baumol and Tobin, the transactions demand for money is
 
 
 
Correct Answer
 
 
 
You Answered
 
 
 
 
 
 
 
 
 
Question 37
2 / 2 pts
The book in which Milton Friedman and Anna Schwartz reported on their study of the relation between money and the business cycle is<br>
The book in which Milton Friedman and Anna Schwartz reported on their study of the relation between money and the business cycle is
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Question 38
0 / 2 pts
Which of the following is true of the new classical view of stabilization policy?<br>
Which of the following is true of the new classical view of stabilization policy?
You Answered
 
 
 
 
 
 
Correct Answer
 
 
 
 
 
 
Question 39
0 / 2 pts
An important distinction between Friedman's and Keynes' view of money demand was that<br>
An important distinction between Friedman's and Keynes' view of money demand was that
Correct Answer
 
 
 
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
Question 40
0 / 2 pts
Which of the following schools of thought among economists believe that activist stabilization policy is ever desirable?<br>
Which of the following schools of thought among economists believe that activist stabilization policy is ever desirable?
 
 
 
You Answered
 
 
 
 
 
 
Correct Answer
 
 
 
 
 
 
Question 41
0 / 2 pts
During the late 1970s, households, businesses, and policymakers shifted to the opinion that<br>
During the late 1970s, households, businesses, and policymakers shifted to the opinion that
You Answered
 
 
 
 
 
 
 
 
 
Correct Answer
 
 
 
 
 
 
Question 42
2 / 2 pts
If oil prices fall at the same time that the federal government increases its spending, in the short run<br>
If oil prices fall at the same time that the federal government increases its spending, in the short run
 
 
 
Correct!
 
 
 
 
 
 
 
 
 
 
 
 
Question 43
2 / 2 pts
Which of the following is true of the new Keynesian view of stabilization policy?<br>
Which of the following is true of the new Keynesian view of stabilization policy?
 
 
 
 
 
 
 
 
 
Correct!
 
 
 
 
 
 
Question 44
0 / 2 pts
When economists state that money is neutral in the long run, they mean that in the long run,<br>
When economists state that money is neutral in the long run, they mean that in the long run,
You Answered
 
 
 
Correct Answer
 
 
 
 
 
 
 
 
 
 
 
 
Question 45
0 / 2 pts
Money's convenience yield is<br>
Money's convenience yield is
Correct Answer
 
 
 
You Answered
 
 
 
 
 
 
 
 
 
 
 
 
Question 46
0 / 2 pts
Most economists believe that the aggregate supply curve is<br>
Most economists believe that the aggregate supply curve is
 
 
 
Correct Answer
 
 
 
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Question 47
0 / 2 pts
The inclusion in <i>M1</i> of interest-bearing substitutes for conventional checkable deposits in the early 1980s<br>
The inclusion in M1 of interest-bearing substitutes for conventional checkable deposits in the early 1980s
You Answered
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
You Answered
 
 
 
 
 
 
Correct Answer
 
 
 
 
 
 
Question 50
0 / 2 pts
Which of the following is the correct expression for short-run aggregate supply in the new classical view?<br>
Which of the following is the correct expression for short-run aggregate supply in the new classical view?
[removed]  
Y = Y + a(P - Pe)
 
 
You Answered
[removed]  
Y = Y + a(P + Pe)
 
 
Correct Answer
[removed]  
Y = Y + a(P - Pe)
 
 
[removed]  
Y = Y + a(P + Pe)
 
 
 
 
 
 
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