What causes AD1 to shift to AD2 in graph 2?
a. a stable PL1 in graph 2
b. a shift from MS2 to MS1 in graph 1
c. a shift from RGDP1 to RGDP2 in graph 2
d. a shift from i1 to i2 in graph 1
d. a shift from i1 to i2 in graph 1
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By 1937, when a new recession began in the midst of the Great Depression,
A) GDP had almost recovered to its 1929 level, but unemployment was still above the 1929 level. B) unemployment had almost fallen back to its 1929 level, but GDP had yet to recover to its 1929 level. C) neither GDP nor unemployment had returned to near their 1929 levels. D) both GDP and unemployment had returned to near their 1929 levels.
Congress and the president are the key decision makers for U.S. monetary polic
a. true b. false
Why do both households and societies face many decisions?
a) because resources are scarce b) because populations may increase or decrease over time c) because wages for households and therefore society fluctuate with business cycles d) because people, by nature, tend to disagree
Which of the following is correct?
A. real interest rate = nominal interest rate / anticipated inflation rate B. real interest rate = nominal interest rate - anticipated inflation rate C. real interest rate = nominal interest rate * anticipated inflation rate D. real interest rate = nominal interest rate + anticipated inflation rate