Both monetary policy and fiscal policy shift the aggregate demand curve.

Before the South Korean financial crisis, sales by the top five chaebols (family-owned conglomerates) were

A) nearly 50% of GDP. B) about 10% of GDP. C) almost 90% of GDP. D) nearly 25% of GDP.

The economy suffers an adverse supply shock. As a result, in the short run Real GDP will __________ and the price level will __________

A) rise; rise B) fall; fall C) fall; remain constant D) fall; rise E) rise; fall