【正文】 ase in oil prices is an example of:the level of inflation consistent with output in an expansionary gap.C.59.An inflation shock is:shortrun equilibrium.B.58.A sudden change in the normal behavior of inflation, unrelated to the nation39。an increase in the expected rate of inflation.B. until it bees vertical rightwardC.A.cause the AS curve to bee vertical.D.aggregate demand rises.C.54.As the quality of available resources bees worse:decrease aggregate demand.B. right rightC.A.aggregate supply。aggregate demand。an increase in aggregate supply.C.50.A leftward shift of the AS curve indicates:inverseB.all firms will increase their prices and their output in response to an increase in aggregate demand.A.expansionary。recessionary。 decreaseD. increaseB.46.Starting from potential output, if consumer confidence increases and consumers decide to spend more, then this will generate a(n) _____ gap and inflation will _____.expansionary。recessionary。 increase decreaseC.A.a recessionary。an expansionary。 remain the sameD. increaseB.42.When actual output exceeds potential output there is ____ output gap and the rate of inflation will tend to ____.no。an expansionary。 high lowC.A.small。large。 lowD. highB.38.A low rate of expected inflation tends to lead to a ___ rate of actual inflation and a high rate of expected inflation tends to lead to a ____ rate of actual inflation. the Fed39。 automatic stabilizersB.37.Inflation inertia is the result of the behavior of ____ and the existence of ______.equal zero.B.potential inflation.A.many firms raise their prices when aggregate demand has increased.D.an increase in the inflation rate.C.33.An increase in the aggregate demand for goods and services will result in an increase in the amount of output firms are willing to produce, and this increase in output is acpanied by:increasing output and then raising the price of their output.B.or raise the price at which they sell their output, but never both.A.unemployment rateD.neither fiscal nor monetary policy.C.29.The AD curve can be shifted by:aggregate supply curve。aggregate demand curve。 right leftC.A.aggregate supply curve。aggregate demand curve。 leftD. rightB.25.For a given inflation rate, if a rise in the stock market makes consumers more willing to spend, then the ______ shifts _____.aggregate supply curve。aggregate demand curve。 right leftC.A.positive。positive。 rightD. leftB.21.A sudden increase in household wealth is an example of a ______ demand shock, which shifts the AD curve to the ______.AS。AD。 right rightC.A.caused by changes in output and changes in the real interest rate.D.caused by changes in the inflation rate.C.17.Changes in planned spending that shift the aggregate demand curve are those:aggregate supply curve.B.real GDP.A.real GDP。planned spending。 demand forD. demand forB.13.If the interest rate in the . rises, . financial assets bee ______ attractive to buyers and the ______ . dollars will rise.less。more。bee less attractive to domestic buyers and more attractive to foreign buyers.A.bee less attractive to both foreign and domestic buyers.D. planned consumption and investmentD. government spendingB.9.An increase in the interest rate directly affects ______, but also has an indirect effect on ______ because of its effect on exchange rates. the wealth effectD. fall。rises。 the wealth effect rise。falls。A.is horizontal。slopes downward。real interest rate.C.5.The aggregate demand curve shows the relationship between planned spending and the:the AD curve onlyB.the PAE line onlyA.when the AD and AS curves bee vertical.D.when the AD and AS curves intersect, regardless of the level of output.C.Chapter 13Student: ___________________________________________________________________________1.The economy is in longrun equilibrium:when the AD and AS curves intersect at potential output, Y*.B.2.The economy is in shortrun equilibrium:when the AD and AS curves intersect at a level of real GDP that is above or below Y*.C.either the AD curve or the AS curveD.A.the PAE line onlynominal interest rate.B.6.The AD curve ______ because, holding all else constant, an increase in ______ causes C, IP and NX to fall. real GDPB. real GDPD. the ineexpenditure multiplierB.rises。 fall。A.rises。 rise。 the wealth effectplanned consumption and investment。net exports。10.When the interest rate in the . rises, . financial assets:bee more attractive to both foreign and domestic buyers.C.bee more attractive to both foreign and domestic buyers.D.A. supply ofC. supply ofmore。less。14.The AD curve slopes downward because an increase in ______ causes ______ to fall, which in turn causes real GDP to fall. planned spendingB. planned spendingD.planned spending that are caused only by changes in output or the inflation rate.D.A.aggregate demand curve.caused by changes in output.B.18.A demand shock is a change in planned spending that is:caused by changes in the inflation rate.C.AD。AS。A. rightC. rightnegative。negative。22.Firms suddenly being pessimistic about future business prospects is an example of a ______ demand shock, which would shift the AD curve to the ______. leftB. rightD.aggregate demand curve。aggregate supply cur