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3 Written questions

3 Multiple choice questions

  1. a combination of inflation and recession, usually resulting from supply shock
  2. the costs to firms of changing prices
  3. changes in federal taxes and purchases that are intended to achieve macroeconomics policy

3 True/False questions

  1. supply shocka unexpected event that causes the short-run aggregate supply curve to shift

          

  2. short-run aggregate supply curvea curve that shows the relationship in the short-run between the price level and the quantity of real GDP supplied by firms

          

  3. aggregate demand and aggregate supply modela curve that shows the relationship in the short-run between the price level and the quantity of real GDP supplied by firms

          

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