Refer to the above figures. A tariff is placed on a foreign good. Which figures represents the situation in the domestic market for a competing domestic good?

Real gross domestic product is the total value of all: a. goods and services produced in a country adjusted for inflation

b. goods and services produced in a country without an adjustment for inflation. c. final goods and produced in a country services adjusted for inflation. d. final goods and services produced in a country without adjustment for inflation.

If the Fed wants to move the economy down and to the right along the Phillips curve, what must it do?

a. Increase the rate at which the aggregate supply curve shifts upward b. Decrease the rate at which the aggregate demand curve shifts rightward c. Increase the rate at which the aggregate demand curve shifts rightward d. Increase the rate at which the aggregate demand curve shifts leftward e. Decrease the rate at which the aggregate supply curve shifts upward