Indicators of recession.

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Chapter 10, Problem 4QQ

To determine

Indicators of recession.

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The business cycle occurs because A. the government is constantly trying to produce an inflationary gap, but expenditures in the economy cannot keep pace with the government's agenda B. aggregate demand and short-run aggregate supply fluctuate, but the money wage rate does not adjust quickly enough to keep real GDP at potential GDP C. potential GDP is increasing, and increases in aggregate demand cannot keep pace with increases in long-run aggregate supply D. the Bank of Canada is constantly increasing the quantity of money.

Which of the following leads to a rightward shift in the aggregate demand? a. General price level fall b. Rise in government spending c. General price level rise d. Fall in government spending

F. The long run aggregate supply curve is vertical because output is unresponsive to the _ i. Price level ii. Capital ii, Technology iv. Labor G. The accepting of credit/debit card in payments shifts i. AD curve upward ii. AS curve upward iii. AD curve downward iv. AS curve downward All the points above the IS cure show i. Excess supply of goods ii. Excess demand for goods iii. Excess supply of money iv. Excess demand for money Н. I. As the Keynesian cross is a building block for the IS curve, the theory of _is a building block for the _curve. ii. Liquidity preference, AD i. liquidity preference, LM iv. None of the above iii. Liquidity preference, AS J. The LM curve is drawn for a given supply of . i. Real money ii. Nominal money iii. Goods iv. Factors of production The fiscal policy is, effective if IS curve is ii. Less, steeper K. i. More, steeper iii. More, flatter iv. None of the above