Author Question: The short-run equilibrium level of real output and the price level are determined by the ... (Read 147 times)

Zulu123 · **on:** Jun 30, 2018

The short-run equilibrium level of real output and the price level are determined by the intersection of the aggregate demand curve and the short-run aggregate supply curve.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following is true of fiscal spending at the federal, state, and local levels of the U.S. government?
a. In 2009, total government spending equalled around 1 billion.
b. Investment expenditure in the U.S. exceeds the total spending at all levels of government.
c. Government spending at federal, state, and local levels declined steadily from the 1960s until about 1980.
d. Through the 1950s and 1960s, the U.S. government maintained a balanced budget.
e. Federal government spending exceeds state and local government spending in the U.S.