Milestone 2

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School

Thomas Edison State College *

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Course

111

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Economics

Date

Feb 20, 2024

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pdf

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Uploaded by zuimiimi7

UNIT 2 — MILESTONE 2 19/ 20 <> that's 95% ‘ RETAKE @ 19 questions were answered correctly. 1 question was answered incorrectly. T @ Which of the following is NOT a way that the government finances fiscal policy? O Sale of treasury securities O Tax revenue Rollover of debt O Printing of mone CONCEPT — Funding Fiscal Policy: Bond Markets Report an issue with this question - O Which of the following graphs represents a peak in the economy? 19/20

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UNIT 2 — MILESTONE 2 / T AS/AD Model Price Level R i > Y=RGDP CONCEPT — Business Cycles and Long-Run Adjustment to Equilibrium Report an issue with this question 3 @ If the marginal propensity to consume (MPC) is 0.75 and the government increases spending by $100 billion, the effect this change has on the economy will be which of the following? There will be an increase of $133.3 billion throughout the economy. There will be an increase of $75 (O billion in economic activity. There will be an increase of $400 ©@ O billionin economic activity. 19/20

UNIT 2 — MILESTONE 2 CONCEPT — Expansionary Policy Report an issue with this question 4 Q@ Based on the expenditure approach and the information shown here, which of the following is the GDP? Individual purchases: $5 billion Government purchases: $10 billion Business investments: $5 billion Imports: $5 billion Exports: $10 billion © O $25 billion O $45 billion O $15 billion O $35 billion 19/20

UNIT 2 — MILESTONE 2 5 @ Select the TRUE statement regarding aggregate supply in the short and long run. In the long run, there is a close O relationship between price level and RGDP. The relationship between price O level and RGDP is negative in the short run. In the long run, there are no limits O on production. The long-run aggregate supply O O (LRAS) curve can move over time. CONCEPT — Aggregate Supply Report an issue with this question 19/20

UNIT 2 — MILESTONE 2 001 002 00E 00t 00S 009 004 008 3 Based on the graph above, if market price is $19 per unit, what is happening at that market price? The price is too high, so suppliers O want to produce more than what consumers want. The price is too high, so suppliers O want to produce less than what consumers want. The price is too low so suppliers O want to produce less than what consumers want. bttt % Quantity 8 o — N (=] o 19/20

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Related Questions

01. Which ff the following reasons why fine-tuning the economy is not likely to be successful, is not really a problem for fiscal policy? O (a) Recognition lag (b) Policy lag O (c) Implementation lag (d) Impact lag (0) Both (a) and (b)
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