In the short run, lowering the federal funds rate shifts the aggregate demand curve ________ so that real GDP ________ and the price level ________

For more than a thousand years, the Catholic Church required its members to abstain from meat on Fridays. Catholics customarily ate fish on Friday. After 1966 abstinence from meat on Fridays was no longer required. Consequently, the

a. demand curve for fish shifted to the right. b. demand curve for fish shifted to the left. c. demand for meat decreased. d. price of fish increased.

The anticipated inflation rate is an important component of the nominal interest rate

a. True b. False Indicate whether the statement is true or false