(06.06 MC) Assume that the real interest rate falls in Country Y. Which of the following will occur?

(05.07 MC) The government of country B has relaxed immigration policies. Which of the following is likely to be a consequence of this policy?

(02.01 LC) Which of the following is true about nominal GDP?

(02.05 HC)This question refers to the following excerpt.”KNOW YE…That for the further Well- being and good Government of the said Province, and Territories;…I the said William Penn do declare, grant and confirm, unto all the Freemen, Planters and Adventurers, and other Inhabitants of this Province and Territories, these following Liberties, Franchises and Privileges…Because no People can be truly happy, though under the greatest enjoyment of civil liberties, if abridged of the freedom of their consciences, as to their religious profession and worship: And Almighty God being the only Lord of Conscience, Father of Lights and Spirits; and the Author as well as object of all divine knowledge, faith and worship, who only doth enlighten the Minds, and persuade and convince the understandings of people, I do hereby grant and declare, that no person or persons, inhabiting in this Province or Territories, who shall confess and acknowledge One almighty God, the Creator, Upholder and Ruler of the World; and profess him or themselves obliged to live quietly under the Civil Government, shall be in any case molested or prejudiced, in his or their person or estate, because of his or their conscientious persuasion or practice, nor be compelled to frequent or maintain any religious worship, place or ministry, contrary to his or their mind, or to do or suffer any other act or thing, contrary to their religious persuasion.And that all persons who also profess to believe in Jesus Christ, the Savior of the World, shall be capable (notwithstanding their other persuasions and practices in point of conscience and religion) to serve this Government in any capacity, both legislatively and executively.”Source: William Penn, from Pennsylvania Charter of Privileges and Liberties (1701)What was the result of privileges and liberties being guaranteed in Pennsylvania?

(03.02 LC)Why did the pamphlet Common Sense have such a powerful impact on the American colonists?

(03.07 MC) Suppose an economy is experiencing a positive demand shock. What will happen in the long run if the government doesn’t intervene?

(04.03 MC)Question refers to the image below.The Sphere of Woman, Clifton Waller BarrettCollection, University of VirginiaThe image was most likely intended to promote

(03.01–03.09 HC) For all graphs, be sure to correctly and completely label all axes and curves and use arrows to indicate the direction of any shifts.The United States is currently experiencing an inflationary gap. Draw a correctly labeled graph of the aggregate demand, long-run aggregate supply, and short-run aggregate supply curves. Label the equilibrium price level PL1 and the equilibrium real output Y1. Label the full-employment level of output YF. What can be assumed about the actual rate of unemployment compared to the natural rate of unemployment, based on the information above? Explain. Assume that the output gap is estimated to be $800 billion and the federal government decides to take action. If the marginal propensity to consume is 0.8, by how much would it need to change government spending to close the gap? Show your work and indicate whether the change would be a spending increase or decrease. An alternative bill in Congress proposes to use the income tax to close the output gap rather than changes in spending. Calculate the change in tax revenue the government would need to close the gap. Assume the same figures as part (c). What is one possible automatic stabilizer in the economy that would contribute to closing this output gap? Assume that instead of intervening, the government allowed the economy to self-adjust in the long run. On your graph from part (a), illustrate how the economy would self-adjust in the long run. If the GDP deflator is 140 in the year that the inflationary gap is identified, and three years later it is 140, does this mean that there has been inflation over the three years? Explain. After the long-run adjustment in part (f), is the economy operating on, inside, or outside of its production possibilities curve?

(01.06 HC) Use the graph to answer the question that follows.Which of the following best explains the shift from D1 to D2 for Good A in this graph?

  (03.07 HC) Use the graph to answer the question that follows. An economy attained a long-run equilibrium at point A. How does the price adjust in the long run when the aggregate demand rises from AD1 to AD2 to bring the economy back to its natural rate?