Question 1

Which of the following statements is true?

Accepted Answer

A) Both nominal and real interest rates are procyclical and leading. 
B) Both nominal and real interest rates are procyclical and lagging. 
C) Nominal interest rates are procyclical and real interest rates are countercyclical. 
D) Nominal interest rates are procyclical and real interest rates are acyclical. 
A) Both nominal and real interest rates are procyclical and leading. 
B) Both nominal and real interest rates are procyclical and lagging. 
C) Nominal interest rates are procyclical and real interest rates are countercyclical. 
D) Nominal interest rates are procyclical and real interest rates are acyclical.

Question 2

The longest economic expansion in the United States occurred during the

Accepted Answer

A) 1940s. 
B) 1960s. 
C) 1980s. 
D) 1990s. 
A) 1940s. 
B) 1960s. 
C) 1980s. 
D) 1990s.

Question 3

By 1937,when a new recession began in the midst of the Great Depression,

Accepted Answer

A) GDP had almost recovered to its 1929 level, but unemployment was still above the 1929 level. 
B) unemployment had almost fallen back to its 1929 level, but GDP had yet to recover to its 1929 level. 
C) neither GDP nor unemployment had returned to near their 1929 levels. 
D) both GDP and unemployment had returned to near their 1929 levels. 
A) GDP had almost recovered to its 1929 level, but unemployment was still above the 1929 level. 
B) unemployment had almost fallen back to its 1929 level, but GDP had yet to recover to its 1929 level. 
C) neither GDP nor unemployment had returned to near their 1929 levels. 
D) both GDP and unemployment had returned to near their 1929 levels.

Question 4

An economic variable that moves in the same direction as aggregate economic activity (up in expansions,down in contractions)is called

Accepted Answer

A) procyclical. 
B) countercyclical. 
C) acyclical. 
D) a leading variable. 
A) procyclical. 
B) countercyclical. 
C) acyclical. 
D) a leading variable.

Question 5

The CFNAI is a

Accepted Answer

A) leading index based on variables released with different frequencies. 
B) coincident index based on variables released with different frequencies. 
C) leading index based on 85 monthly variables. 
D) coincident index based on 85 monthly variables. 
A) leading index based on variables released with different frequencies. 
B) coincident index based on variables released with different frequencies. 
C) leading index based on 85 monthly variables. 
D) coincident index based on 85 monthly variables.

Question 6

The key difference between classical and Keynesian macroeconomists is their differing beliefs about

Accepted Answer

A) the slope of the aggregate demand curve. 
B) the speed at which prices adjust. 
C) the natural rate of unemployment. 
D) the full-employment level of output. 
A) the slope of the aggregate demand curve. 
B) the speed at which prices adjust. 
C) the natural rate of unemployment. 
D) the full-employment level of output.

Question 7

The worst recessions after World War II occurred

Accepted Answer

A) during 1945-1946 and 1973-1975. 
B) during 1957-1958 and 1973-1975. 
C) during 1973-1975 and 1981-1982. 
D) during 1945-1946 and 1981-1982. 
A) during 1945-1946 and 1973-1975. 
B) during 1957-1958 and 1973-1975. 
C) during 1973-1975 and 1981-1982. 
D) during 1945-1946 and 1981-1982.

Which of the following statements is true?

The longest economic expansion in the United States occurred during the

By 1937,when a new recession began in the midst of the Great Depression,

An economic variable that moves in the same direction as aggregate economic activity (up in expansions,down in contractions)is called

The CFNAI is a

The key difference between classical and Keynesian macroeconomists is their differing beliefs about

The worst recessions after World War II occurred

Introduction to Macroeconomics

The Measurement and Structure of the National Economy

Productivity, output, and Employment

Consumption, saving, and Investment

Saving and Investment in the Open Economy

Long-Run Economic Growth

The Asset Market, money, and Prices

The Is-Lmad-As Model

Classical Business Cycle Analysis

Keynesianism: the Macroeconomics of Wage and Price Rigidity

Unemployment and Inflation

Exchange Rates, business Cycles, and Macroeconomic Policy in the Open Economy

Monetary Policy and the Federal Reserve System

Government Spending and Its Financing

Filters

Exam 8: Business Cycles

Which of the following statements is true?

The longest economic expansion in the United States occurred during the

By 1937,when a new recession began in the midst of the Great Depression,

An economic variable that moves in the same direction as aggregate economic activity (up in expansions,down in contractions)is called

The CFNAI is a

The key difference between classical and Keynesian macroeconomists is their differing beliefs about

The worst recessions after World War II occurred

Introduction to Macroeconomics

The Measurement and Structure of the National Economy

Productivity, output, and Employment

Consumption, saving, and Investment

Saving and Investment in the Open Economy

Long-Run Economic Growth

The Asset Market, money, and Prices

The Is-Lmad-As Model

Classical Business Cycle Analysis

Keynesianism: the Macroeconomics of Wage and Price Rigidity

Unemployment and Inflation

Exchange Rates, business Cycles, and Macroeconomic Policy in the Open Economy

Monetary Policy and the Federal Reserve System

Government Spending and Its Financing

Filters