Refer to the above figure. Suppose the relevant aggregate demand curve is AD2. If the government wants to use fiscal policy to close the existing gap, it should
A) increase government spending. B) increase taxes.
C) increase the money supply. D) decrease taxes.
Question 2
A growth process whereby relatively poorer nations increase their income by taking advantage of knowledge and technologies already invented in other, technologically more advanced countries is referred to as:
A) trade-based growth. B) transfer growth.
C) innovative growth. D) catch-up growth.
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