An economist who favored expanded government would recommend:
A. tax cuts during recession and reductions in government spending during inflation.
B. tax increases during recession and tax cuts during inflation.
C. tax cuts during recession and tax increases during inflation.
D. increases in government spending during recession and tax increases during inflation.
D. increases in government spending during recession and tax increases during inflation.
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The aggregate supply curve shows the relationship between ____ and ____, holding all other factors constant
a. price level; quantity of real GDP supplied b. price level; supply of nominal GDP c. nominal GDP; price level of real GDP d. price level; amount of nominal GDP supplied
In the space provided in the graph above, draw a demand curve, D1, and then draw a second demand curve, D2, that illustrates a decrease in demand.
