ECO442 Tma Solutions
1. Long run absence of tradeoff between inflation and unemployment was orchestrated by ———-
R.K Martins
Kuznets
—>> Milton F.
Bakare T.A.
2. Kuznets observes that in the early stages of economic growth relative income inequality increases, stabilises for a time and then decline in the later stages. This is known as the ——– .
—>> inverted U-shaped hypothesis
Inverted S-shaped hypothesis
inverted U-shaped hypothesis
inverted U-shaped hypothesis
3. A monetary phenomenon that is always every where is known as ———-
unemployment
wage determination
market price
—>> inflation
4. The non-accelerating inflation rate of unemployment is also known as (NAIRU) ————
nature rate of unemployment
actual rate of unemployment
real rate of unemployment
—>> natural rate of unempolyment
5. the inverted U-shaped hypothesis of income distribution was given by ————.
J.M Keynes
David Ricardo
J.S. Mill
—>> Kuznets
6. The LM represent equilibrium in the ——— market
—>> money
capital
product
labour
7. This natural rate of unemployment is also known as non-accelerating inflation rate of unemployment (NAIRU)
—>> TRUE
FALSE
indiference
ambiguous
8. ——– is the equality of money demanded and supplied at equilibrium level of income and interest rate.
—>> LM
IS
ISLM
LMIS
9. Kuznets observes that in the early stages of economic growth relative income inequality increases, stabilises for a time and then decline in the later stages. This is made known in the theory of ———– .
—>> distribution
market
consumption
wage determination
10. Given that C = 100 + 0.8Y and that I = 80, the value of equilibrium income in the two sector model is ———
—>> 900
600
850
790
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