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Multiple Choice Quiz
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1
Shifts in consumer confidence are considered demand shocks.
A)True
B)False
2
Shifts in the monetary policy reaction curve shift the dynamic aggregate demand curve in the same direction.
A)True
B)False
3
An increase in government purchases always results in permanent increases in output and inflation, regardless of any action taken by monetary policymakers.
A)True
B)False
4
Monetary policymakers can neutralize supply shocks.
A)True
B)False
5
Real-business-cycle theory assumes that inflation adjusts slowly when changes in potential output occur.
A)True
B)False





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