(05.02 MC) An increase in aggregate demand, for a given short-run aggregate supply curve, should lead to which of the following results relating to the Phillips curve?

(02.09 MC)Your community faces a challenging issue. You will serve on a volunteer committee to evaluate and make a recommendation to the city council. Which economic process will help your committee identify all potential solutions to the issue?

(06.03 MC) Assume a competitive foreign exchange market between the Japanese yen and the U.S. dollar. Which of the following best explains the supply of yen in the market for yen?

(01.06 MC)A country’s currency is backed by a gold standard. However, gold production has declined and will not recover. Which action would protect the value of the country’s currency in the long run?

  (04.07 MC) Suppose a closed economy has a national income of $260 million and $535 million in private savings. Which figure would you need to calculate national savings?

(03.06 MC) Assume an economy is in short-run equilibrium with a real output (or real GDP) of Y0 and a price level of PL0. If the government increases income taxes on all income levels, what is the likely effect?

(03.05 MC) When the economy is in a short-run equilibrium with the price level at PL0 and real output at Y0, which of the following must be true?

(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.

(05.06 MC) Use the graph to answer the question that follows.Suppose the economy is initially producing on the AB production possibility curve (PPC). How will the PPC respond if there is a rightward shift in the long-run aggregate supply?

(05.01 MC) What is the effect of the government increasing social welfare and the central bank buying securities on the output and employment of an economy?