Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher
B. expansionary; higher; potential
C. recessionary; higher; potential
D. recessionary; lower; lower
Answer: B
Economics
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Daily foreign exchange transactions have grow from about $15 billion in 1973 to about $4 trillion today
Indicate whether the statement is true or false
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