When the actual real GDP exceeds the natural real GDP as in Figure 1-2 above, we expect to find that unemployment is
A) high and inflation is high.
B) low and inflation is high.
C) low and inflation is low.
D) high and inflation is low.
B
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According to this Application, the dry dust wind known as the harmattan has caused ________ of cocoa pods
A) an increase in the supply B) a decrease in the demand C) a decrease in the supply D) an increase in the demand
In the aggregate demand and aggregate supply model,
a. the factors that cause the demand curves in both models to slope downward are the same b. the factors that cause the supply curves in both models to slope upward are the same c. the upward-sloping aggregate demand curve intersects the downward-sloping aggregate supply curve to determine the economy's price level and GDP d. the upward-sloping aggregate supply curve intersects the downward-sloping aggregate demand curve to determine the economy's price level and GDP e. the price level never changes even with shifts in aggregate demand and aggregate supply