Aggregate demand is the sum of total domestic spending by the private sector.

The "stagflation" of the 1970s ________ Keynesian macroeconomics until the Keynesians started to build the consequences of changing inflationary expectations and ________ shocks into their models

A) reinforced the dominance, supply B) reinforced the dominance, demand C) deepened the eclipse, supply D) deepened the eclipse, demand

Cyclical majorities can occur when _____

a. voters have single-peaked preferences b. voters are rationally ignorant c. voters are irrationally ignorant d. voters do not have single-peaked preferences