If a passive approach is followed in closing an expansionary gap, _____.
a. restrictive fiscal policy would be used
b. restrictive monetary policy would be used
c. the short-run aggregate supply curve would shift to the right
d. the price level would decrease in the long run
e. an economy would experience inflationary pressure
Question 2
If an active approach is followed in closing an expansionary gap, _____.
a. the aggregate demand curve would shift rightward
b. the aggregate demand curve would shift leftward
c. the short-run aggregate supply curve would shift rightward
d. the short-run aggregate supply curve would shift leftward
e. there would be a movement up and to the left along the short-run supply curve
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