Over very long periods, U.S. real economic growth averaged around:
A. 5 percent per year.
B. 7 percent per year.
C. 3 percent per year.
D. 1 percent per year.
Answer: C
Economics
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In the short run, a contractionary fiscal policy would cause
a. the AD curve to shift to the right b. equilibrium real GDP to decrease and the price level to increase c. the AS curve to shift left d. the economy to slide along the AD curve e. equilibrium GDP and the price level to fall
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