The four phases of a business cycle, in order, are trough, depression, peak, and expansion

In a Malthusian world, what would improve the standard of living permanently?

A) a war B) a new medical drug C) birth control D) democracy

How does a reduction in the price level affect the position of the C + I + G + X curve and in turn the equilibrium level of real GDP?

A) The C + I + G + X curve shifts down, thereby reducing the equilibrium level of real GDP. B) The C + I + G + X curve shifts down, thereby increasing the equilibrium level of real GDP. C) The C + I + G + X curve shifts up, thereby reducing the equilibrium level of real GDP. D) The C + I + G + X curve shifts up, thereby increasing the equilibrium level of real GDP.