(02.04 HC) Use the table to answer the question that follows. Year Price of X Quantity of X Price of Y Quantity of Y 1 $8 5 $9 7 2 $5 5 $7 7 The economy produced only two goods with the prices and quantities of each good for year 1 and year 2 shown in the table. Which of the following describes the state of the economy in year 2?

(01.06 MC) Use the graph to answer the question that follows.The graph for a competitive output market shows demand shifting from D to D′ and supply shifting from S to S′. Which pair of events is consistent with these two changes?

(06.02 MC) Use the graph to answer the question that follows.Which of the following is a consequence of the shift in the demand curve as shown in the graph?

(05.01 MC) If the government wishes to reduce unemployment and lower interest rates, which policy combination will be most effective? Assume the banking system operates with limited reserves.

(02.06 MC) Use the data table to answer the question that follows. Year Nominal GDP GDP Deflator 1 $640 billion 160 2 $1050 billion 175 By how much did the value of output, adjusted for inflation, change from Year 1 to Year 2?

(02.03 MC) An economy’s natural unemployment rate is 9 percent, its structural unemployment rate is 2 percent, and its cyclical unemployment rate is 3 percent. Based on this data, its frictional unemployment rate is ________, and its actual unemployment rate is ________.

(03.05 MC) Which of the following is true if the economy is in long run equilibrium?

(05.04 MC) Which of the following statements about deficits and debt is true?

(04.04 MC) Suppose an individual deposits $7,000 in a bank that has a reserve requirement of 20%. Assuming this is the only deposit in the bank, what is the liability and the excess reserve held by the bank?

(05.01 MC) Which of the following best explains the effect of a contractionary fiscal and monetary policy on the aggregate demand of an economy?