Refer to the accompanying figure.
Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at ________ creating ________ gap.
A. D; an expansionary
B. B; no output
C. D; a recessionary
D. B; recessionary
Answer: C
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When Dominant Pizza is willing to sell a pizza to a student who lives on-campus at a lower price than it sells the identical pizza to a student who lives a block away from the campus, the pizza firm is ________
A) practicing price discrimination B) unfair C) incurring a loss on on-campus sales D) eliminating all competition
In the United States, which is the largest dollar figure?
A) disposable personal income B) gross domestic product C) per-capita GDP D) personal income
Marginal product measures the change in:
A. total cost brought about by changing production by one unit. B. product price brought about by changing production by one unit. C. a firm's revenue brought about by changing production by one unit. D. the firm's output brought about by employing one additional unit of input.
Explain the determinants of exports and imports
What will be an ideal response?