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Test Bank for Macroeconomics, 13th Edition

Test Bank for Macroeconomics, 13th Edition offers an effective way to prepare, including essential test questions and answers.

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1Macroeconomics, 13e(Parkin)Chapter 11Expenditure Multipliers1 Fixed Prices and Expenditure Plans1) In the Keynesian model of aggregate expenditure, real GDP is determined by theA) price level.B) level of aggregate demand.C) level of aggregate supply.D) level of taxes.Answer: BTopic: Keynesian ModelSkill: RecognitionStatus: OldAACSB: Reflective thinking2) The Keynesian model of aggregate expenditure describes the economy inA) the short run.B) the long run.C) both the short run and the long run.D) only a strong expansion.Answer: ATopic: Keynesian ModelSkill: RecognitionStatus: OldAACSB: Reflective thinking3) The Keynesian model of aggregate expenditure assumes thatA) individual firms' prices are flexible but the price level is fixed.B) both individual firms' prices and the price level are flexible.C) both individual firms' prices and the price level are fixed.D) individual firms' prices are fixed but the price level is flexible.Answer: CTopic: Keynesian ModelSkill: RecognitionStatus: OldAACSB: Reflective thinking4) In the Keynesian model of aggregate expenditure, we assume that firms willA) not change prices.B) change prices only when inventory levels rise.C) raise prices when inventory levels fall.D) change prices immediately after a fluctuation in aggregate demand, to maintain profits.Answer: ATopic: Keynesian ModelSkill: RecognitionStatus: OldAACSB: Reflective thinking

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Subject
Economics
Textbook
Macroeconomics by Douglas McTaggart...

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