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Chapter_7 - Macroeconomics Test Yourself Chapter7 1 In a b...

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Macroeconomics Test Yourself Chapter7 1. In the aggregate supply relation, the current price level depends upon a. the expected price level. b. monetary policy. c. fiscal policy. d. consumer confidence. e. all of the above. 2. When the price level is equal to the expected price level, we know that 3. When output is less than the natural level, 4. In the aggregate demand relation, a rise in the price level causes output to drop through its impact on 5. Which of the following would shift the aggregate demand curve leftward? a. a decrease in the money supply. b. an increase in consumer confidence. c. a rise in the price level. d. a decrease in taxes. e. all of the above. 6. In our model, the short-run impact of a decrease in the money supply would include
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