A trend is
A) a measure of closeness on a scatter diagram.
B) a general tendency for a variable to rise or fall.
C) the maximum value of a variable.
D) the minimum value of a variable.
E) the difference between the maximum value of a variable and the minimum value of the variable.
B
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If the Fed increases the quantity of money, then
A) aggregate demand increases and the AD curve shifts rightward. B) the quantity of real GDP demanded decreases and there is a movement up along the AD curve. C) both the aggregate demand curve and the aggregate supply curve shift leftward. D) aggregate demand decreases and the AD curve shifts leftward. E) the quantity of real GDP demanded increases and there is a movement down along the AD curve.
If total spending is greater than the value of output, firms will
a. cut prices. b. decrease production levels. c. tend to raise prices. d. see inventories rise.