IMG_1728.jpg - C at full employment D)below full employment and is most likely in a recession E below full employment and is most likely in an expansion

IMG_1728.jpg - C at full employment D)below full employment...

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Unformatted text preview: C) at full employment. D)below full employment and is most likely in a recession. E) below full employment and is most likely in an expansion. 35) Continue to refer to the figure above, representing an economy at its short-run macroeconomic equilibrium. You might expect the government to A) pursue trade policies that reduce exports. B) cut government expenditure. C) raise taxes. D) do nothing except maintain the current equilibrium. E) increase government expenditure. 36) Beginning at a long-run equilibrium, an increase in aggregate demand A) increases the price level, but in the long run there is no change in real GDP. B) increases the price level and in the long run decreases real GDP. C) decreases the price level and in the long run increases real GDP. D) decreases the price level and in the long run decreases real GDP. E) increases the price level and in the long run increases real GDP. X D-8...
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