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3 Written questions

3 Multiple choice questions

  1. a combination of inflation and recession, usually resulting from supply shock
  2. a curve that shows the relationship between the price level and the quantity of real GDP demanded by households, firms, and the government
  3. a curve that shows the relationship in the long-run between the price level and the quantity of real GDP supplied

3 True/False questions

  1. fiscal policychanges in federal taxes and purchases that are intended to achieve macroeconomics policy

          

  2. supply shocka combination of inflation and recession, usually resulting from supply shock

          

  3. menu coststhe costs to firms of changing prices

          

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