Refer to Figure 27-1. Suppose the economy is in short-run equilibrium above potential GDP and wages and prices are rising
If contractionary policy is used to move the economy back to long run equilibrium, this would be depicted as a movement from ________ using the static AD-AS model in the figure above.
A) B to A B) A to E C) C to B D) E to A E) D to C
C
Economics
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Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?
A. An increase in supply. B. An increase in demand. C. A decrease in supply. D. A decrease in demand.
Economics
The New Deal legislation passed by President Roosevelt was inspired by
A. economic problems caused by World War I. B. normal business cycles. C. the Irish potato famine of 1927. D. the Great Depression
Economics