If the economy is on the steep part of the AS curve, the multiplier will be
A. infinite, as compared to zero if the economy is on the flat portion of the AS curve.
B. constant regardless of where the economy is on the AS curve.
C. larger than it would be if the economy were on the flat portion of the AS curve.
D. smaller than it would be if the economy were on the flat portion of the AS curve.
Answer: D
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Describe the U.S. Social Security system and explain how it is funded
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If the percentage change in the quantity demanded of a good is greater than the percentage change in price, price elasticity of demand is:
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