Macroeconomics Examine Guide Article

1. Inflation is most likely to result from a(n): Under normal circumstances, a short-run trade-off exists between rate of inflation as well as the rate of employment. Aggregate supply shocks can cause equally higher costs of pumpiing and bigger rates of unemployment. 2 . Assume contracts between staff and organisations that require an increase in the wage price of 5% are based on an expected pumpiing rate of 3%. Will need to inflation actually be 6% in that case: Yes a few. From the point of view of supply-side economists, a cut in tax prices will be: Cause long term economic growth. some. Which is a fundamental proposition of supply-side economics? Tax improves on organization reduce production and result and increase the price level.. 5. In the end, demand-pull inflation: The initial increase in aggregate require moves our economy along it is vertical get worse supply contour. 6. The idea that huge reductions in personal income tax rates raises incentives to work, save, and make investments is most strongly associated with: Supply-side economics 7. The idea that cutbacks in taxes rates increases tax income is illustrated by the: Supply-side economist almost 8. Which function probably written for the stagflation of the 70's? A rise in the price of oil. being unfaithful. Economist Arthur Laffer argued that Robin Hood great men would: " end up getting less income than in the event they gathered a relatively small " tax” from every traveler to get passage throughout the forest. ” 10. In the long run, stability intended for the economy is usually achieved just at: 11. Which is a key provision of supply-side economics is: Reduced marginal taxes rates encourage saving and investing. doze. One of the central ideas in supply-side economics is: Reduce marginal taxes rates motivate saving and investing. 13. The Laffer Curve is a central strategy in: Supply-side economics 14. Which is a explanation given by supply-side economists as to the reasons tax reduces should maximize aggregate source? It will keep unemployment prices and pumpiing low. 15. Supply-side economists contend that...



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