A decline in aggregate demand is analogous to an upward movement along the short-run Phillips curve

Refer to Table 8-18. What is real GDP in 2016, using 2011 as the base year?

A) $28,885 B) $11,790 C) $11,200 D) $10,275

In comparison to the situation in the late 1970s, the United States experienced lower nominal interest rates and higher real interest rates in the late 1990s

a. True b. False Indicate whether the statement is true or false