QUESTION 44 2 points Save Answer Which of the following is not true of the Obama

Question

QUESTION 44 2 points Save Answer Which of the following is not true of the Obama Stimulus Program? O The Stimulus Program relied on Classical economic thinking The Stimulus Program was overwhelming focused on the first three years of spending Economists are divided in their view of the long term consequences of the Stimulus Program QUESTION 45 2 points Save Answer Suppose an economy is currently at the full employment level of output. Assume the government then undertakes expansionary fiscal policy. Based on the AD AS model, what would we expect to be the most likely outcome of this policy in the short run? O An increase in output but little change in inflation O A decrease in inflation but little change in output O An increase in inflation but little change in output O A decrease in output but lttle change in inflation QUESTION 46 2 points Save Answer Suppose the marginal propensity to consume in an economy is 0.9. What would be the Keynesian multiplier in this economy? o 10 QUESTION 47 2 points Save Answer If nominal GDP grows faster than real GDP, then prices must be O falling O rising O constant. falling at an increasing rate

Explanation / Answer

44. Ans: The stimulus program relied on classical economic thinking.

45.Ans:An increase in inflation but little change in output

46.Ans: 10

47.Ans:rising.

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