Suppose That the Economy Is in Long-Run Equilibrium and the Government

question 300

Multiple Choice

Suppose that the economy is in long-run equilibrium and the government decided to engage in expected expansionary policy by increasing the money supply. If we assume rational expectations, which of the following statements is correct about the effect of expansionary policy in the long run?

• A) The unemployment rate will increase, real GDP will increase and the price level will increase.
• B) The unemployment rate will decrease, real GDP will decrease and the price level will decrease.
• C) The unemployment rate will remain unchanged, real GDP will remain unchanged and the price level will increase.
• D) The unemployment rate will remain unchanged, real GDP will remain unchanged and the price level will decrease.

Comprehend the influence of culture on intelligence testing and the interpretation of IQ scores.

Recognize the debates surrounding the predictability of intelligence tests on educational and professional success.

Acknowledge the significance of adaptive skills in defining intellectual disability beyond just IQ scores.

Understand the characteristics and common findings related to gifted and profoundly gifted children.

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Definitions:

Burglary

The unlawful entry into a building or other location with the intent to commit theft or any felony.

10-11 P.M.

A time slot in the late evening, often associated with adult-oriented television programming or the hour before midnight.

4-5 A.M.

A time period in the early morning often considered quiet and still, sometimes associated with spiritual or reflective practices.

5-7 P.M.

A time period in the evening often considered as "rush hour" or a transitional time between work and home life for many people.