6) Rank these three goods in the order of least sticky to most sticky: fresh fis

Question

6) Rank these three goods in the order of least sticky to most sticky: fresh fish, used cars, steel rods. A) fresh fish, used cars, steel rods B) steel rods, fresh fish, used cars C) used cars, fresh fish, steel rods D) steel rods, cars, fresh fish 11) Sticky prices are a result of: A) labor union influence. B) government regulation of the economy. C) economic coordination problems. D) lack of coordination between auction prices and custom prices. 16) The "short run" in macroeconomics is a period in which prices A) change by a lot. B) are determined by changes in the supply. C) reflect the equilibrium price. D) do not change or change very little. 1) The aggregate demand curve: A) slopes upward. B) slopes downward. C) may slope upward or downward. D) is horizontal. 6) The aggregate demand curve slopes downward because at a higher price level: A) the purchasing power of consumers' assets declines and consumption increases. B) producers can get more for what they produce, and they increase production. C) the purchasing power of consumers' wealth declines and consumption decreases. D) the purchasing power of consumers' wealth increases and consumption increases. Chapter 10 3) Congress increases government spending. This is an example of: A) monetary policy. B) supply-side policy. C) fiscal policy. D) incomes policy. 6) Fiscal policy refers to: A) the techniques used by a business firm to reduce its tax liability. B) the behavior of the nation's central bank, the Federal Reserve, regarding the nation's money supply. C) the spending and taxing policies used by the government to influence the economy. D) the government's ability to regulate a firm's behavior in the financial markets. 11) Contractionary fiscal policy shifts the: A) the aggregate demand curve to the left. B) the short run aggregate supply curve to the right. C) the short run aggregate supply curve to the left. D) the aggregate demand curve to the right. 16) Refer to Figure 10.1 to answer this question. Suppose that the economy were at point A, and the government increases government spending. In the short run , the economy will move to point: A) B. B) C. C) D. D) E. 19) Refer to Figure 10.1 to answer this question. Which of the following fiscal policies would move the economy from point B to point A? A) higher taxes B) lower taxes C) lower government spending D) lower money supply

Explanation / Answer

The correct option should be steel rods(Changes in input costs will change prices), fresh fish(somewhat sticky as input costs may not affect price and patterns of demand for fresh fish), used cars(mostly sticky, input costs will have no effect and demand patterns will be similar)

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