Hi I got 2 of these questions wrong and I'm not sure which ones. (Bold=my answer)

1) If the actual unemployment rate is 5.5% and if the natural unemployment rate is 4% then the ____

a. cyclical unemployment is rate 1.5%

b. cyclical unemployment is rate 15%

c. structural unemployment is rate 1.5%

d. frictional unemployment rate is 2%

e. cyclical unemployment rate is 2%

2) The only way a recession can occur is if output falls below potential output (true or false)

3) Our SHORT-RUN aggregate supply curve is horizontal to indicate

a. nothing since the curve is actually vertical

b. price is assumed to change only when demand changes in the short run

c. output demanded is assumed to increase with price in the short run

d. firms are assumed to be able to sell as much as buyers demand at the existing price level in the short run

e. an increase in price results in no increase in output supplied in the short run

4) The natural rate of unemployment is less than the actual unemployment rate when there is an expansionary gap (true or false)

5) The SHORT RUN effects of an increase in the money supply involve a path during part of which, at the same time

a. prices increase and output remains the same

b. prices remains the same and output increases

c. prices decrease and output increases

d. prices decrease and output remains the same

e. prices increase and output increases

6) Starting from the long-run equilibrium, the LONG RUN equilibrium effects of an increase in money supply is

a. decrease in price and increase in output

b. increase in price and decrease in output

c. increase in price and no change in output

d. decrease in price and no change in output

e. increase in price and increase in output

7) The equation of exchange states that the quantity of money multiplied by the velocity of money equals nominal GDP (true or false)

8) The actual employment rate that prevails when cyclical unemployment is zero is called the ____ unemployment rate

a. cyclical

b. structural

c. transitory

d. frictional

e. natural

9) It is assumed that in the LONG RUN,

a. price adjusts so output is at potential output

b. prices are sticky

c. the structural unemployment rate is greater than the natural unemployment rate

d. output adjusts to meet demand while prices remain constant

e. the cyclical unemployment rate is positive

10) PRIOR to recent recessions, it has been normal for there to be

a. falling GDP growth rates

b. positive inflation rates

c. disinflation

d. deflation

e. increasing unemployment rates

11) If the actual unemployment rate is 5% and if the natural unemployment rate is 4% with potential output equal to $3000 billion, then Okun's Law tells us there is a

a. recessionary gap equal to negative $60 billion

b. expansionary gap equal to $120 billion

c. recessionary gap equal to $120 billion

d. recessionary gap equal to $60 billion

e. recessionary gap equal to negative $120 billion

12) When the actual unemployment rate is equal to the natural rate of unemployment, then output is at potential output (true or false)