1) COVID19 related supply shocks will ______ unemployment and _______ prices
Group of answer choices
decrease, increase
increase, decrease
increase, increase
decrease, decrease
2) If the economy is close to the long run equilibrium or at the long run equilibrium, a classical macroeconomist will want monetary policy to be guided by
Group of answer choices
discretion
whimsy
rules
interventions from the white house
3) Keynesian Phillips curve outlines a role for _______ demand management policies during recession
Group of answer choices
expansionary
contractionary
neither expansionary nor contractionary
both expansionary and contractionary
4) If the economy is close to the long run equilibrium or at the long run equilibrium, a classical macroeconomist will think that there is no relation between ______ and _________
Group of answer choices
inflation, unemployment
deflation, investment
inflation, investment
deflation, unemployment
5) COVID19 related supply shocks must be stabilized using __________ demand management policies, hoping to make the AD curve shift to the _____
Group of answer choices
contractionary, left
coronary, left
expensive, right
expansionary, right