If the economy is experiencing an inflationary GDP gap, ___ monetary policy might be used to ____ aggregate demand and ____ the overall price level.
A. expansionary; decrease; decrease
B. expansionary; increase; decrease
C. contractionary; decrease; decrease
D. contractionary; decrease; increase
C. contractionary; decrease; decrease
Economics
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From the late 1960s to the late 1990s, the share of GDP devoted to government purchases
A) drifted gradually upward. B) drifted gradually downward. C) remained fairly steady. D) increased, but only after the onset of a war or a military buildup.
Economics
Assume the graph shown represents the market for pizzas sold in an hour. Which of the following could be a reason S2 to S1?
A. The price of pizza sauce has increased.
B. The price of pizza went down.
C. The price of labor for pizza shops went down.
D. People just don’t have preferences for pizza anymore.
Economics