[{"id":213700,"question":"A nation experience external balance if it achieves.","choices":[{"text":"No net changes in its international gold stocks","value":"A"},{"text":"Productivity levels equal to those of its trading partners","value":"B"},{"text":"An increases in its money supply equal to increases overseas","value":"C"},{"text":"Equilibrium in its balance of payments","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213699,"question":"A nation experiences internal balance if it acieves.","choices":[{"text":"Full employment","value":"A"},{"text":"Price stability","value":"B"},{"text":"Full employment and price stability","value":"C"},{"text":"Unemployment and price instability","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213698,"question":"The costs of disinflation would be low if","choices":[{"text":"Expected inflation falls as inflation falls","value":"A"},{"text":"Wages and price controls were used","value":"B"},{"text":"The Phillips curve were nearly horizontal","value":"C"},{"text":"The Phillips curve adjusted slowly to changes in inflation","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213697,"question":"The reduction of the inflation rate is called","choices":[{"text":"Deflation","value":"A"},{"text":"Disinflation","value":"B"},{"text":"Inflation","value":"C"},{"text":"Reflation","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213696,"question":"Hyperinflation occurs when","choices":[{"text":"The inflation rate rises","value":"A"},{"text":"The inflation Tate declines","value":"B"},{"text":"The inflation rate is extremely high","value":"C"},{"text":"The inflation rate is extremely low","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213695,"question":"The idea that the natural rate of unemployment rises when the acual rate of unemployment rise is known s.","choices":[{"text":"Stabilization","value":"A"},{"text":"Insider outsider theory","value":"B"},{"text":"Hysteresis","value":"C"},{"text":"an efficiency wage model","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213694,"question":"When the economy goes into are cession there's an increase in.","choices":[{"text":"Frictional unemployment","value":"A"},{"text":"structural unemployment","value":"B"},{"text":"Cyclical unemployment","value":"C"},{"text":"Voluntary unemployment","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213693,"question":"The fact that the long run Phillips curve is vertical implies that","choices":[{"text":"Monetary policy can't effect unemployment","value":"A"},{"text":"Money is neutral in the long run","value":"B"},{"text":"There is a natural rate of inflation","value":"C"},{"text":"Money can't affect inflation in the long run","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213692,"question":"The long run Phillips curve is","choices":[{"text":"Vertical","value":"A"},{"text":"Horizontal","value":"B"},{"text":"Upward sloping","value":"C"},{"text":"Downward sloping","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213691,"question":"A beneficial supply shock would cause.","choices":[{"text":"A movement up the short run Phillips","value":"A"},{"text":"a movement down the short run Phillips curve","value":"B"},{"text":"The short run Phillips curve to shift upward and to the rights","value":"C"},{"text":"The short run Phillips curve to shift down ward and to the left","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":213690,"question":"If the expected rate of inflation rose at the same time the natural rate of unemployment rose the Philips curve.","choices":[{"text":"would shift down","value":"A"},{"text":"would shift up","value":"B"},{"text":"Would not move","value":"C"},{"text":"Might shift up or down or not move depending on which effect was larger.","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213689,"question":"If the expected inflation rate is unchanged a fall in the natural rate of unemployment would.","choices":[{"text":"shift the Phillips curve to the right","value":"A"},{"text":"Not Shift the phillips curve","value":"B"},{"text":"Shift the Phillips curve to the left","value":"C"},{"text":"shift the Phillips curve to the left shift the long -run Philips curve to the right","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213688,"question":"An increase in the expected rate of inflation would.","choices":[{"text":"shift the Philips curve upward","value":"A"},{"text":"shift the phillips curve downward","value":"B"},{"text":"Shift the long -run phillips curve to the right","value":"C"},{"text":"Shift the long-run phillips curve to the left","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213687,"question":"The philippic curve is the relation between inflation and unemployment that hold for a given natural rate of unemployment. and a","choices":[{"text":"Given rate of inflation","value":"A"},{"text":"Given expected rate on inflation","value":"B"},{"text":"Given level of unemployment","value":"C"},{"text":"Given expected level of unemployment","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":213686,"question":"\"An Enquiry into the Nature and causes of wealth of Nations\" is thebook of economist.","choices":[{"text":"Adam smith","value":"A"},{"text":"Marshall","value":"B"},{"text":"Robbins","value":"C"},{"text":"None of above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213685,"question":"If the federal reserve whishes to increase the money supply, it should","choices":[{"text":"Raise the reserve requirement","value":"A"},{"text":"Raise the discount rate","value":"B"},{"text":"Buy Treasury securities in the open the market","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213684,"question":"Friedman and phelps suggested that there should not be a stable relationship between inflation and unemployment, but here should be a stable relationship between","choices":[{"text":"Anticipated inflation and frictional unemployment","value":"A"},{"text":"Anticipated inflation and cyclical unemployment","value":"B"},{"text":"Unanticipated inflation and frictional unemployment.","value":"C"},{"text":"Unanticipated inflation and cyclical unemployment","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213683,"question":"The negative relation ship between unemployment and inflation is know as the","choices":[{"text":"Aggregate supply curve","value":"A"},{"text":"Aggregate demand curve","value":"B"},{"text":"Philipps curve","value":"C"},{"text":"Efficiency wage line","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":213682,"question":"The origin of the idea of a trae off between inflation and unemployment was a 1958 article by","choices":[{"text":"A.W Philips","value":"A"},{"text":"Edmund phelps","value":"B"},{"text":"Milton Friedman","value":"C"},{"text":"Robert Gordon","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":213681,"question":"Assuming that money is neutral an increase in the nominal money supply would causes.","choices":[{"text":"An excess supply for goods","value":"A"},{"text":"an increase in the real money supply","value":"B"},{"text":"A fall in the price level","value":"C"},{"text":"A rise in nominal wages","value":"D"},{"value":"E"}],"correctAnswer":4}]