BUS 103 Introduction to Macroeconomics
BUS103 Introduction to Macroeconomics Trial MCQs for Final Exam SECTION A 1. Which of the following statement is not true? Other things remaining the same, (a) (b) (c) (d) 2. Which of the following statement is true? Other things remaining the same, (a) (b) (c) (d) 3. The short run aggregate supply (SAS) curve slopes upward. With an inflationary gap, money wage rate begins to rise and the SAS curve shifts leftward. A leftward shift in the short run aggregate supply (SAS) curve causes stagflation. In the long run, the quantity of real GDP is greater than potential GDP. With the given money wage rate, as the price level falls below the equilibrium price level, the quantity of real GDP supplied _______ and the real GDP is _______ than the potential GDP. The missing words are: (a) (b) (c) (d) 6. The short run aggregate supply (SAS) curve slopes upward. With an inflationary gap, money wage rate begins to fall and the SAS curve shifts rightward. A leftward shift in the short run aggregate su...
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