If the aggregate demand curve in Figure 8-5 is D5, the economy will be experiencing
A) demand-pull inflation.
B) cost-push inflation.
C) structural inflation.
92) If the aggregate demand curve in Figure 8-5 is D2, the economy will be experiencing
93) Whenever the general level of prices rises because of continual increases in aggregate demand, we say that the economy is experiencing
A) cost-push inflation.
B) monetary stagflation.
C) demand-pull inflation.
D) aggregate supply shock.
94) Demand-pull inflation occurs when
A) increases in aggregate demand are not matched by increases in aggregate supply.
B) increases in aggregate supply outstrip increases in aggregate demand.
C) aggregate demand falls more rapidly than aggregate supply.
D) long-run aggregate demand rises faster than short-run aggregate supply.
95) ________ occurs when increases in aggregate demand are not matched by increases in aggregate supply.
A) Demand-pull inflation
B) Cost-push inflation
96) If there are continual decreases in aggregate supply, the economy will experience
A) a slow decrease in price levels.
B) demand-pull inflation.
C) an expansionary gap.
D) cost-push inflation.
97) If there are continual ________ in aggregate supply, the economy will experience cost-push inflation.
C) wage decreases
98) If our economy is growing at a constant rate of 5 percent per year, then over a period of 10 years we would expect to see which of the following?
A) Nice, steady flat line growth
B) An upward-sloping growth line
C) A downward-sloping growth line
D) It is impossible to say what kind of growth line we would see
99) Economic growth will not result in inflation if aggregate demand shifts
A) outward to the right at the same speed as aggregate supply.
B) inward to the left at the same speed as aggregate supply.
C) outward to the right as aggregate supply shifts inward to the left.
D) inward to the left as aggregate supply shifts outward to the right.
100) Economic growth will not result in inflation if ________ shifts outward to the right at the same speed as aggregate supply.
A) aggregate demand
B) aggregate supply
C) labour supply
D) the planned aggregate expenditure curve
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