Question: Keynesian thought
Answer Choices:
A. argues that wages are upwardly inflexible
\nB. argues that stabilization policy is most likely to be needed in the case of inflationary gaps
\nC. envisions a less active role to government economic policy than the Classical School
\nD. was a response to the Great Depression
Answer: D. was a response to the Great Depression
Question: The long-run AS/AD model improves on the short-run AS/AD model by
Answer Choices:
A. tracking national income
\nB. allowing us to see how real world events produce changes in output, employment, and prices
\nC. predicting changes in imports and exports
\nD. allowing us to evaluate levels of output and employment at a point in time
Answer: B. allowing us to see how real world events produce changes in output, employment, and prices
Question: If the current wage rate is above the equilibrium wage rate, we would generally expect to see
Answer Choices:
A. a recessionary gap
\nB. an inflationary gap
\nC. full-employment
\nD. a wage gap
Answer: D. a wage gap
Question: If our economy is operating at Point A (on Production Possibilities Frontier), we would expect that
Answer Choices:
A. the wage rate is below equilibrium
\nB. the economy is experiencing an inflationary gap
\nC. nominal GDP is larger than real GDP
\nD. the economy is experiencing a recessionary gap
Answer: D. the economy is experiencing a recessionary gap
Question: When a bank makes a loan, that loan is classified as…
Answer Choices:
A. an asset of the bank
\nB. a liability of the bank
\nC. an asset in some cases and a liability in other cases, depending on the type of loan
\nD. neither an asset nor a liability
Answer: A. an asset of the bank
Question: The required reserve ratio applies to…
Answer Choices:
A. checking and checkable deposits only
\nB. checking and checkable deposits as well as savings deposits
\nC. all deposits in banks
\nD. time deposits
Answer: B. checking and checkable deposits as well as savings deposits
Question: If Mr. Borlaug deposits $200,000 in a new CD at Seed Bank, how much will the bank’s required reserves increase?
Answer Choices:
A. $0
\nB. $200,000
\nC. $20,000
\nD. $40,000
Answer: C. $20,000
Question: A nurse is discharging a patient following a myocardial infarction. The patient states, “I will need to stop eating spicy foods to keep that chest pain from returning again.” What is the nurse’s best response?
Answer Choices:
What do you understand about what happened to you?
\nThe provider has prescribed an antacid for you to take every morning
\nAvoiding spicy foods may reduce future episodes of indigestion
\nWhen did you start experiencing this indigestion?
Answer: What do you understand about what happened to you?
Question: Fractional reserve banking is a term used to describe a banking system in which…
Answer Choices:
[as listed in image]
Answer: A. banks hold reserves equal to only a fraction of their demand deposits
Question: The self-correcting mechanism (SCM) works through
Answer Choices:
A. shifts in the LRAS curve
\nB. shifts in the SRAS curve
\nC. shifts in the AD curve
\nD. shifts in whichever curve the government chooses to adjust
Answer: B. shifts in the SRAS curve
Question: If the Classical School of thought is correct, which of the following would you not expect to see?
Answer Choices:
A. Active government management of the economy via economic stabilization policy
\nB. An economy that stays quite close to full-employment
\nC. Input prices that adjust quite quickly
\nD. An economy that stays quite close to potential GDP
Answer: A. Active government management of the economy via economic stabilization policy
Question: When conducting post-discharge follow up for a 74-year-old patient who had coronary artery bypass graft, the nurse knows to provide which information on sexual activity?
Answer Choices:
When you can climb five flights of stairs, you can safely tolerate sex
\nUse comfortable positions that don’t stress your incision or donor graft sites
\nYour usual sexual activity is not likely to damage your heart
\nYou will need to wait at least 6 weeks before having intercourse
\nDon’t eat for three hours before engaging in sexual activities
\nStart having sex when you are most rested, such as in the morning
Answer: When you can climb five flights of stairs, you can safely tolerate sex
\nUse comfortable positions that don’t stress your incision or donor graft sites
\nYour usual sexual activity is not likely to damage your heart
Question: In our long-run AS/AD model, government economic stabilization policy
Answer Choices:
A. is needed to counteract flexible wages and input prices
\nB. is an option when the SCM is functioning too slowly
\nC. can only be used to close recessionary gaps
\nD. explains the shape of the LRAS curve
Answer: B. is an option when the SCM is functioning too slowly
Question: A patient is being evaluated for a possible myocardial infarction, but the patient is not sure when the pain started because he has a history of gastroesophageal reflux. Which diagnostic result will be most helpful in determining whether the patient has suffered cardiac injury?
Answer Choices:
Elevated creatine kinase (CK)
\nElevated creatine kinase myocardial bands (CK-MB)
\nElevated myoglobin
\nElevated troponin
Answer: Elevated troponin
Question: Reserve requirements and audits are examples of regulation designed to protect…
Answer Choices:
A. the Federal Reserve
\nB. borrowers
\nC. depositors
\nD. bankers
Answer: C. depositors
Question: An increase in the wage rate would most likely shift
Answer Choices:
A. the SRAS curve out
\nB. the AD curve back
\nC. the SRAS curve back
\nD. the AD curve out
Answer: A. the SRAS curve out
Question: During an assessment, a patient describes experiencing chest pain with exercise that disappears with rest; no other symptoms are present and the patient states this is “normal” for them. The nurse correlates this finding with which health problem?
Answer Choices:
Variant angina
\nPrinzmetal’s angina
\nStable angina
\nUnstable angina
Answer: Stable angina