Refer to Figure 27-6. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely pursue
A) expansionary automatic stabilizers.
B) contractionary monetary policy.
C) contractionary fiscal policy.
D) expansionary monetary policy.
E) expansionary fiscal policy.
C
Economics
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All else constant, an increase in the price of a good will cause the quantity supplied to increase
Indicate whether the statement is true or false
Economics
Suppose Jon Stewart of the "Daily Show" makes an annual income of $1,000,000. If he quit his television job and went into producing he could make $400,000 per year. Jon Stewart's annual economic rent to labor is
A) $1,400,000. B) 1,000,000. C) $400,000. D) $600,000.
Economics