The 2008-2009 recession must have been a result of ________ because otherwise the combination of the ________ cannot be explained
A) a decrease in AD and an increase in AS; rise in the price level and the decrease in real GDP
B) a decrease in AD and AS; rise in the price level and the decrease in real GDP
C) a decrease in AD and AS; decrease in the price level and the decrease in real GDP
D) a decrease in AD and an increase in AS; fall in the price level and the decrease in real GDP
E) an increase in AD and AS; rise in the price level and the decrease in real GDP
B
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When the U.S. exchange rate falls, U.S. goods become ________ to foreign residents and U.S. exports ________
A) less expensive; increase B) less expensive; decrease C) more expensive; decrease D) more expensive; increase
Interest rates and investment are actually observed to move most of time in ________, and this is explained by other factors affecting investment shifting the ________ curve to the right
A) the same direction, IS B) the same direction, LM C) opposite directions, IS D) opposite directions, LM