A period of stagflation can be considered as part of the normal aftermath of a
A. decrease in aggregate demand.
B. period of high unemployment.
C. period of low unemployment.
D. period of inward shifting aggregate demand.
Answer: C
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Which school of thought would be considered the most laissez-faire?
A. the mainstream view B. the monetarist view C. the self-correction view D. the real business cycle view
Assume foreign beer is a normal good. If the incomes of demanders decreases,
A) the demand for foreign beer will increase. B) the quantity supplied of foreign beer will increase. C) the market output of foreign beer will increase. D) all of the above will occur. E) none of the above will occur.
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What will be an ideal response?