The government would want the economy to contract when real GDP is
A. Above potential GDP and the price level is falling
B. Below potential GDP in the price level is falling
C. Above potential GDP and the price level is rising
C. Above potential GDP and the price level is rising
Economics
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Money that has no intrinsic value and is created by a government decree is called
A) barter money. B) fiat money. C) commodity money. D) asset money.
Economics
Consumption spending is $5 million, planned investment spending is $8 million, unplanned investment spending is $2 million, government purchases are $10 million, and net export spending is $2 million. What is aggregate expenditure?
A) $15 million B) $23 million C) $25 million D) $27 million
Economics