ECO 372 Week 2 Knowledge Check Quiz

Topics: Economics, Macroeconomics, Aggregate demand Pages: 2 (298 words) Published: December 21, 2014
ECO/372 Week 2 Knowledge Check – Quiz
Quiz Questions with 100% Correct Answers:

1.
2.
3.
4.

5.
6.
7.
8.

The globalized AS/AD curve is the standard AS/AD model with an added According to Say's Law, people
A shift in the long-run aggregate supply curve will change
The hypothesis about the macroeconomy that sees the recent
problems with the U.S. economy directly related to the structural problems caused by globalization is referred to as the __________ hypothesis.
The central difference between the standard theory and the structural stagnation hypothesis when it comes to growth is
In 2009, the personal savings rate rose. If the additional savings were not translated into investment, Keynes would predict that aggregate income would.
According to the Keynesian model,
The study of economic growth focuses on the factors that cause an

Answers
The globalized AS/AD curve is the standard AS/AD model with an added 

world supply curve

According to Say's Law, people


supply goods in order to obtain other goods

A shift in the long-run aggregate supply curve will change


both output and the price level

The hypothesis about the macroeconomy that sees the recent problems with the U.S. economy directly related to the structural problems caused by globalization is referred to as the __________ hypothesis.



structural stagnation

The central difference between the standard theory and the structural stagnation hypothesis when it comes to growth is


the trend growth rate

In 2009, the personal savings rate rose. If the additional savings were not translated into investment, Keynes would predict that aggregate income would.


decline and remain there

According to the Keynesian model,


the price level is fixed due to social forces, which keeps the economy from remaining at an equilibrium level of unemployment

The study of economic growth focuses on the factors that cause an 

economy's production...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on ECO 372 WEEK 1 KNOWLEDGE CHECK
  • ECO 372 Week 1 Quiz Answers Essay
  • Essay on Eco 372
  • ECO 372 Week 3 Knowledge Check Essay
  • Week 2 Knowledge Check Study Guide Essay
  • Eco/372 Week 2 Individual Essay
  • ECO 365 Week 2 Essay
  • Week 2 Knowledge Check Essay

Become a StudyMode Member

Sign Up - It's Free