EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 24, Problem 6DQ
To determine
How shocks force people to make changes.
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Suppose aggregate demand in the economy sharply decines. Keynesian economists say that the price level (at least for a time) will
and real output wil
O remain constant; decrease
Increase; remain constant
remain constant; increase
decrease; remain constant
lo000
3. The world was growing at a constant
growth of 0.00007% rate between 100,000
BC and 1750AD. If birth rates per thousand
averaged 35 during this period , what was
the average death rate in equilibrium.
(approximately)
O 31
35
40
8. Which of the following statements is
correct?
A model is an exact representation of what
goes on in the economy.
Equilibrium in GDP growth rate is when the
growth rate is zero.
A model is an economic relationship that is
only represented by mathematics.
Equilibrium is a self-perpetuating situation
that does not change, unless a force for
change is introduced from the outside and
alters the basic data describing the
situation.
9. According to Malthus, which of the
following are the not the causes of
diminishing average product of labor?
Environmental effects of over-cultivation
(e.g. increased carbon emissions)
Increase in population growth rate
More labour is devoted to a fixed quantity
of land.
The new land brought into cultivation is of
inferior quality…
Suppose that the actual unemployment rate in a country is 7.7
percent. If the country's frictional unemployment rate is 3.5
percent and its structural unemployment rate is 1.1 percent, what
is its cyclical unemployment rate?
O 11.7 percent
O 3.1 percent
O 5.3 percent
O 4.1 percent
۵
Chapter 24 Solutions
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