The time which elapses between the start of a recession oran inflationary episode and the identification of the macroeconomicproblem is described as a(n):

SelectedAnswer:c.

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bureaucratic lag.

Answers:a.

recognition lag.

b.

operational lag.

c.

bureaucratic lag.

d.

budacquire lag.

Question 27

0 out of 1 points

Suppose that Congress enacts an income tax rise to reduceinflationary push. Which of the complying with would certainly the majority of likelycounteract the results of the taxation increase?

SelectedAnswer:a.

crowding-out.

Answers:a.

crowding-out.

b.

reductions in federal government spfinishing.

c.

taxation boosts at the state level.

d.

the expectation that the boost is short-term.

Question 11

0 out of 1 points

If the Consumer Price Index was 265 in one year and also 275 in thefollowing year, then the rate of inflation from one year to the next wasapproximately:

SelectedAnswer:a.

10.0 percent.

Answers:a.

10.0 percent.

b.

3.8 percent.

c.

4.5 percent.

d.

3.6 percent.

Question 15

0 out of 1 points

Assume an economic situation iscreating just one product. Year 2 is the base year. Output andprice information for a five-year duration are offered.

*
Refer to the above information. Nominal GDP for year 4 is:

SelectedAnswer:

$45.

Answers:

$18.

$45.

$56.

$81.

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ResponseFeedback:

incorrect AACSB: AnalyticBlooms: ApplyDifficulty: 1 EasyLearning Objective: 13-02 Describe just how financial experts distinguishbetween nominal GDP and actual GDP.McConnell - Chapter 13 #79Topic: Real versus nominal GDP; price indexes


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