The IS curve is Y = 20 - 1.5r, and the aggregate demand curve is Y = 15.5 - 0.3?. When the inflation rate is 3 percent, output is ________

What, according to the textbook, accounts for the federal budget surplus in the late 1990s?

A) A move toward virtue on Capital Hill B) Strong economic growth during that period C) Huge increases in tax rates D) A successful beggar-thy-neighbor strategy

Refer to Figure 29-1. The depreciation of the dollar is represented as a movement from

A) B to C. B) B to A. C) D to C. D) A to C. E) A to B.