Question

1- Which of the following is a monetary policy response to the coronavirus pandemic? I. reducing...

1- Which of the following is a monetary policy response to the coronavirus pandemic?

I. reducing interest rates on loans to banks.

II. Providing $1,200 to American's making $75,000 or less.

III. making direct loans to primary dealers of government bonds. Providing $1,200 to American's making $75,000 or less.

a) III only.

b) I and II only.

c) II and III only.

d) I, II, and III.

e) I and III only.

2- Which of the following is a monetary policy response to the coronavirus pandemic?

I. reducing interest rates on loans to banks.

II. making direct loans to businesses.

III. Providing $1,200 to American's making $75,000 or less.

a) I and II only.

b) II and III only.

c) III only.

d) I, II, and III.

3- The coronavirus has caused the value of the US dollar to increase relative to foreign currencies. As a result, the _____ curve of the US has shifted to the _____. This will cause the inflation rate to _____ and the real GDP growth rate to _____.

a) AD; right; increase; increase

b) LRAS; right; decrease; increase

c) LRAS; left; increase; decrease

d) LRAS; left; decrease; increase

e) AD; left; decrease; decrease

4- The coronavirus has caused countries throughout the world to enter into recessions. As a result, the _____ curve of the US has shifted to the _____. This will cause the inflation rate to _____ and the real GDP growth rate to _____.

a) AD; left; decrease; decrease

b) LRAS; left; increase; decrease

c) LRAS; left; decrease; increase

d) LRAS; right; decrease; increase

e) AD; right; increase; increase

5- The coronavirus has caused the US to close "non-essential" businesses. As a result, the _____ curve of the US has shifted to the _____. This will cause the inflation rate to _____ and the real GDP growth rate to _____.

a) LRAS; left; increase; decrease

b) AD; right; increase; increase

c) LRAS; left; decrease; increase

d) LRAS; right; decrease; increase

e) AD; left; decrease; decrease

6- The coronavirus has created a lot of uncertainty about the future of the economy. As a result, the _____ curve of the US has shifted to the _____. This will cause the inflation rate to _____ and the real GDP growth rate to _____.

a) AD; right; increase; increase

b) AD; left; decrease; decrease

c) LRAS; left; decrease; increase

d) LRAS; left; increase; decrease

e) LRAS; right; decrease; increase

7- The coronavirus has disrupted global supply chains. As a result, the _____ curve of the US has shifted to the _____. This will cause the inflation rate to _____ and the real GDP growth rate to _____.

a) LRAS; left; increase; decrease

b) LRAS; right; decrease; increase

c) LRAS; left; decrease; increase

d) AD; right; increase; increase

e) AD; left; decrease; decrease

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Answer #1

1- Loan generation is a monetary policy response while giving people tax rebates or checks is a fiscal policy response e) I and III only.

2- Loan generation is a monetary policy response while giving people tax rebates or checks is a fiscal policy response. Select a) I and II only.

3- Given that the value of the US dollar has increased relative to foreign currencies. This increases imports and reduces exports so net exports decline. AD decreases and so AD shifts left. Both price level and GDP are down. .Select e) AD; left; decrease; decrease

4- a) AD; left; decrease; decrease

e) AD; right; increase; increase

5- a) LRAS; left; increase; decrease

6- b) AD; left; decrease; decrease

7- a) LRAS; left; increase; decrease

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