5. An event that shifts the short-run aggregate supply curve is a A. Vital Shock

Question

5. An event that shifts the short-run aggregate supply curve is a A. Vital Shock B. Demand Shock C. Interest Shock D. Supply Shock 6. is the combination of infiation and falling aggregate output and was described in class by your teacher as a flat spin and/or a pancake type stall of an aircraft. A. Inflation B. Unemployment C. Veblen D. Stagflation 7. What famous British economist decried the tendency of many of his colleagues to tocus on how things work out on the long run by stating that. 'In the long run we are all dead." A. Milton Friedman B. John Maynard Keynes C. Adam Smith D. Thomas Sowell is fiscal policy that increases aggregate 8. demand A. Contractionary fiscal policy B. Expansionary fiscal policy C. Nominal fiscal policy D. Flat fiscal policy is implemented by a reduction 9. government spending aasees ora edcrinsn i government spending, an increase in taxes, or a reduction in government transfers A. Contractionary fiscal policy 8. Expansionary fiscal policy C. Nominal fiscal policy D. Flat fiscal policy 10. One of the three main roles of money is that it is a: A. Medium of Exchange B. Commodity Backed Money C. Fiat Backed Money D. Devalued Overall Currency

Explanation / Answer

5.

supply shock

the above is the answer

6.

stagflation

the above is the answer

7

John Maynard Keynes

the above is the answer

8

B expansionary fiscal policy

the above is the answer

9

A contractionary fiscal policy

the above is the answer

10

A Medium of exchange

the above is the answer

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