İKTİSADA GİRİŞ II - Deneme Sınavı - 14
II. The equilibrium price level is the price level at which the aggregate demand is equal to the aggregate supply.
III. The equilibrium price level is the price level at which the aggregate demand is smaller than the aggregate supply.
What can be said to be true about the equilibrium price level?
II. Production stability is to reduce the periodic fluctuations in GDP and maintaining economic growth rate close to the long-term average.
III. To maintain economic stability economic policy should maintain stability in either stability in prices or stability in production.
Which of the given statement can be said to be true about economic stability?
II. Cost-push inflation is the inflation that occurs as a result of an increase in input costs.
III. Stagflation is the situation in which prices increase while production increases.
What can be said to be true about the types of inflation?
II. Inflation can be a one-time price increase or a continuous increase in prices.
III. It is generally accepted in economics that inflation is always a monetary phenomenon.
What can be said to be true inflation?
II. If the economy operates on the horizontal region of the AS curve, the dominant effect of expansionary policies will be on prices.
III. If the economy operates on the horizontal region of the AS curve, the dominant effect of expansionary policies will be on production.
What can be said to be true about the effects of monetary and fiscal policy?
II. The equilibrium price level corresponds to the intersection of AD and AS curves.
III. Only the factors affecting the changes in aggregate demand cause the equilibrium price level to change.
What can be said to be true about the equilibrium price level?