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Author Question: If fiscal policy is used to close an expansionary gap, the _____. a. short-run aggregate supply ... (Read 42 times)

tfester

  • Hero Member
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  • Posts: 534
on: Jun 30, 2018
If fiscal policy is used to close an expansionary gap, the _____.
 a. short-run aggregate supply curve shifts leftward and the price level falls
 b. short-run aggregate supply curve shifts rightward and the price level increases
  c. short-run aggregate supply curve shifts rightward and the price level falls
 d. aggregate demand curve shifts leftward and the price level falls
 e. aggregate demand curve shifts rightward and the price level falls

Question 2

If consumption = 5,000; investment = 800, government purchases = 700, exports = 30, imports = 60, and transfer payments = 340, then _____.
 a. GDP = 7,400
  b. GDP = 7,740
  c. GDP = 3,140
  d. GDP = 6,470
  e. GDP = 6,840


Moriaki

  • Sr. Member
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  • Posts: 341
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


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