________ could result in a recession because it would ________
A) An increase in government expenditures on goods and services; shift the AD curve to the right.
B) An increase in the quantity of money; shift the AS curve to the right.
C) An increase in investment; shift the AD curve to the right.
D) A tax cut; shift the AS curve to the left.
E) A rise in the price of oil; shift the AS curve to the left.
E
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A retired worker receives a pension that is not indexed to inflation. Which of the following will happen if the rate of inflation rises?
A) The retiree's purchasing power will fall. B) The shareholders of the firm in which he worked will lose. C) The retiree's purchasing power will increase. D) The retiree will be better off.
Refer to Table 16.2. Real GDP for Fredonia for 2016 using 2015 as the base year equals
A) $2,750. B) $3,500. C) $4,325. D) $5,500.