Which of the following economic systems abolishes all private property?

Refer to the scenario above. Using 2013 as the base year, what is the real GDP of the economy in 2012?

A) $50,000 B) $52,500 C) $40,500 D) $49,500

Suppose the economy is operating below its full employment level. The Fed

A) can move the economy toward the full employment level by expanding the money supply to increase aggregate supply. B) can move the economy toward the full employment level by expanding the money supply to increase aggregate demand through both its direct and its indirect effects. C) can move the economy toward the full employment level by expanding the money supply to increase aggregate demand and to hold prices constant. D) is powerless to affect either aggregate demand or aggregate supply. Fiscal policy is needed.