25 May Question Type: D Topic: 5 Level: Moderate E: 198 MA: 198 Status: New
Question
Type: D Topic: 5 Level: Moderate E: 198 MA: 198 Status: New
158. Deflation refers to a situation where:
A) price level falls.
B) price level rises.
C) the rate of inflation falls.
D) the rate of inflation rises.
Type: D Topic: 5 Level: Moderate E: 199 MA: 199 Status: New
159. Disinflation refers to a situation where:
A) price level falls, but the rate inflation does not.
B) price level rises, but the rate of inflation does not.
C) the rate of inflation falls, but the price level does not.
D) the rate of inflation rises, but the price level does not.
Type: A Topic: 5 Level: Moderate E: 199 MA: 199
160. Aggregate demand decreases and real output falls but the price level remains the same. Which factor most likely contributes to downward price inflexibility?
A) the multiplier effect B) the wealth effect C) fear of price wars D) business taxes
Type: A Topic: 5 Level: Moderate E: 199 MA: 199
161. Collective bargaining agreements that prohibit wage cuts for the duration of the contract contribute to:
A) a wealth effect. C) an increase in aggregate supply.
B) a multiplier effect. D) a price level that is inflexible downward.
Type: F Topic: 5 Level: Easy E: 199 MA: 199
162. Efficiency wages will:
A) make wages inflexible downward. C) impose a legal price floor on wages.
B) elicit minimum work effort from workers. D) increase the number of strikes.
Type: F Topic: 5 Level: Easy E: 199 MA: 199
163. Menu costs will:
A) increase the amount of training of workers. C) increase the legal minimum wage.
B) result in price wars between businesses. D) make prices inflexible downward.
Type: A Topic: 5 Level: Moderate E: 199 MA: 199
164. Wage contracts, efficiency wages, and the minimum wage are explanations for why:
A) competition results in price wars.
B) wages tend to be inflexible downward.
C) the aggregate demand curve slopes downward.
D) there is little support for the existence of a real-balances effect.
Type: A Topic: 5 Level: Moderate E: 199 MA: 199
165. Aggregate demand decreases and real output falls but the price level remains the same. Which factor would most likely contribute to downward price inflexibility?
A) menu cost B) lower interest rates C) the real-balances effect D) an increase in aggregate supply
Type: A Topic: 5 Level: Moderate E: 199 MA: 199
166. Efficiency wages are associated with:
A) a price level that is inflexible upward. C) a domestic output that cannot be increased.
B) a price level that is inflexible downward. D) a domestic output that cannot be decreased.
Consider This Questions
Type: A Level: Easy E: 200 MA: 200
167. When aggregate demand decreases, product prices, wage rates, and per-unit production costs are inflexible downward because of a:
A) ratchet effect. B) interest-rate effect. C) real-balances effect. D) foreign-purchases effect.
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