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Author Question: If there is currently a recessionary gap: a. The price level will tend to rise. b. Real output ... (Read 89 times)

kaid0807

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on: Jun 30, 2018
If there is currently a recessionary gap:
 a. The price level will tend to rise.
  b. Real output will tend to rise.
 c. Both a. and b. will occur.
 d. None of the above will occur.

Question 2

Suppose an economy is in equilibrium. Also suppose that consumer expectations change as the threat of war increases the likelihood of an increase in taxes. This would result in:
 a. an increase in equilibrium income.
  b. no change in equilibrium income.
  c. a downward shift of the aggregate supply curve.
  d. a decrease in equilibrium income.
  e. a change in the slope of the aggregate supply curve.


cadimas

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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kaid0807

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Reply #2 on: Jun 30, 2018
Correct answers!


cadimas

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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