Economics PS 8 is a focused quiz assessing understanding of the IS-LM model in macroeconomics. It examines the effects of monetary and fiscal policy changes on interest rates, output, and investment, crucial for students of advanced economics.
Less than
Greater than
Equal to
Sometimes less and sometimes greater than
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Rises; falls
Rises; rises
Falls; rises
Falls; falls
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Lower; raises; reduces
Higher; lowers; increases
Lower; lowers; increases
Higher; raises; reduces
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Slopes up to the right.
Slopes down to the right.
Is horizontal.
Is vertical.
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Increase in the money supply.
Increase in government purchases.
Decrease in taxes.
Increase in money demand.
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Rises; falls
Rises; rises
Falls; rises
Falls; falls
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Leftward shift in the IS curve.
Rightward shift in the IS curve.
Leftward shift in the LM curve.
Rightward shift in the LM curve.
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The budget deficit.
Investment.
Government expenditures.
Taxation.
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Leftward shift in the IS curve.
Rightward shift in the IS curve.
Leftward shift in the LM curve.
Rightward shift in the LM curve.
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P1 > P2 and M1 > M2
P1 > P2 and M1 < M2
P1 < P2 and M1 > M2
P1 < P2 and M1 < M2
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Buy; rises; increase
Sell; falls; decrease
Sell; rises; decrease
Buy; rises; decrease
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LM curve upward and to the left.
LM curve downward and to the right.
IS curve downward and to the left.
IS curve upward and to the right.
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Both consumption and investment remain unchanged.
Consumption rises but investment falls.
Investment rises but consumption falls.
Both consumption and investment fall.
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Buy; IS
Buy; LM
Sell; IS
Sell; LM
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Increase both output and the price level
Decrease output but increase prices
Increase output but decrease the price level
Decrease both output and the price level
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The aggregate demand curve will shift to the right
The aggregate demand curve will shift to the left.
This represents a movement up the aggregate demand curve.
This represents a movement down the aggregate demand curve.
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Increase; lower
Increase; raise
Lower; lower.
Lower; raise
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The aggregate demand curve will shift to the right
The aggregate demand curve will shift to the left.
This represents a movement up the aggregate demand curve.
This represents a movement down the aggregate demand curve.
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Increase; IS
Decrease; IS
Increase; LM
Decrease; LM
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