The Phillips curve is built on the assumption that business fluctuations are
A. from the demand side.
B. from the supply side.
C. from both the demand and supply side.
D. purely random events.
Answer: A
Economics
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According to the expenditure approach to measuring GDP, in the United States , the largest component of GDP is
A) net exports of goods and services. B) consumption expenditure. C) government expenditure on goods and services. D) investment. E) wages.
Economics
If a component of aggregate demand increases,
A) GDP in the United States is likely to increase less than that component of spending increased. B) GDP in the United States is likely to increase more than that component of spending increased. C) GDP in the United States is likely to decrease. D) GDP in the United States will not change.
Economics