The land of Mordor increases its capital stock. As a result, the long-run aggregate supply curve shifts ________ and so does the ________ curve

If the economy suffers a recession for reasons unrelated to fiscal policy, the deficit should rise and

a. inflation should fall. b. interest rates should fall. c. real GDP should fall. d. All of the above are correct.

The Condorcet voting paradox applies to situations in which voters

a. decide between exactly two possible outcomes. b. decide among more than two possible outcomes. c. as a group have transitive preferences. d. choose the inferior candidate even though the majority preferred the better candidate.