During the 1900-1950 period,
a. the growth of real GDP was more stable than has been the case since 1950.
b. unemployment seldom exceeded 4 percent of the labor force.
c. double-digit swings in real GDP during a single year were not uncommon.
d. the money supply was increased at a constant annual rate of between 4 percent and 6 percent throughout the period.
C
Economics
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Refer to Figure 17-2. At which point are inflation expectations equal to the actual inflation rate?
A) A B) B C) C D) all of the above
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A temporary decrease in government purchases causes the real interest rate to ________ and the price level to ________ in general equilibrium
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Economics