The horizontal axis of the aggregate demand and aggregate supply graph has the
a) the price level as measured by the CPI.
b) unemployment rate.
c) the price level as measured by the GDP deflator.
d) output of goods and services.
Ans: d) output of goods and services.
Economics
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When the Federal Reserve extends a discount loan to a bank, the monetary base ________ and reserves ________
A) remains unchanged; decrease B) remains unchanged; increase C) increases; increase D) increases; remain unchanged
Economics
Ceteris paribus, if the government transfers income from individuals with a high MPC to those with a low MPC, in the short run, spending and output will:
A. Increase. B. Decrease. C. Stay the same. D. Increase or decrease depending on the level of saving.
Economics