中级宏观经济学付费版题库10经济波动导论..pdf

Name: __________________________ Date: _____________ 1. Business cycles are: A) regular and predictable. B) irregular but predictable. C) regular but unpredictable. D) irregular and unpredictable. 2. Short-run fluctuations in output and employment are called: A) sectoral shifts. B) the classical dichotomy. C) business cycles. D) productivity slowdowns. 3. Recessions typically, but not always, include at least ______ consecutive quarters of declining real GDP. A) two B) four C) six D) eight 4. Over the business cycle, investment spending ______ consumption spending. A) is inversely correlated with B) is more volatile than C) has about the same volatility as D) is less volatile than 5. When GDP growth declines, investment spending typically ______ and consumption spending typically ______. A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases 6. Okun's law is the ______ relationship between real GDP and the ______. A) negative; unemployment rate B) negative; inflation rate C) positive; unemployment rate D) positive; inflation rate 7. The statistical relationship between changes in real GDP and changes in the unemployment rate is called: A) the Phillips curve. B) the Solow residual. C) the Fisher effect. D) Okun's law. 8. The version of Okun's law studied in Chapter 10 assumes that with no change in unemployment, real GDP normally grows by 3 percent over a year. If the unemployment rate rose by 2 percentage points over a year, Okun's law predicts that real GDP would: A) decrease by 1 percent. B) decrease by 2 percent. C