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Macroeconomic Model And Economic Concepts

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Macroeconomic Model and Economic ConceptsQuestion 1: (1 point)Consider the basic AD/AS macro model. The simple multiplier is reflected by the(a)size of the rightward shift of theADcurve in response to a change in autonomousexpenditure.(b)upward movement along theADcurve in response to a change in autonomousexpenditure.(c)downward movement along theADcurve in response to a change in autonomousexpenditure.(d)horizontal distance between initial macroeconomic equilibrium and the newintersection ofADandASin response to a change in autonomous qu.23.expenditure.(e)size of the downward shift of theADcurve in response to a rise in autonomousexpenditure.Question 2: (1 point)A leftward shift of the aggregate demand (AD)curvecouldresult from a rise in(a)government purchases.(b)desired investment.(c)the net tax rate.(d)government transfer payments to households.(e)desired exports.Question 3: (1 point)Suppose firms are currently producing output at a level beyond their normal capacity. In thissituation, the AS curve will be relatively ________ and a qu.23.positive AD shock will result in________.(a)flat; an equal increase in the price level and in real GDP.(b)steep; a decrease in the price level and a very small decrease in real GDP.(c)steep; an increase in the price level with a small increase in real GDP.(d)flat; a very small increase in prices but a large increase in real GDP.

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