Office Hours: Using the AD/AS Model Practice Questions | Marginal Revolution University

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Office Hours: Using the AD/AS Model Practice Questions

1. Which of the following would not affect the long-run aggregate supply curve? *

a. A major technological innovation.

b. A fall in velocity caused by consumer pessimism.

c. A sudden drop in the price of oil.

d. A significant increase in the percentage of the population attending higher education.

e. A devastating hurricane.

2. Suppose the money supply growth rate is 4%, velocity is 5%, and the real GDP growth rate is 3%. What is the inflation rate? *

a. 9%

b. 6%

c. 4%

d. 2%

3. Suppose the money supply growth rate of the economy shown above is 5.5%. What is the nominal GDP growth rate? *

a. 4%

b. 1.5%

c. 7%

d. -1.5%

e. 0.5%

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Principles of Economics Macroeconomics

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Principles of Economics: Macroeconomics

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