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33 - Chapter 15 Aggregate Demand and Aggregate Supply...

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Chapter 15 Aggregate Demand and Aggregate Supply MULTIPLE CHOICE 1. Which of the following explains why production rises in most years? a. increases in the labor force b. increases in the capital stock c. increases in technology d. All of the above are correct. ANSWER: d. All of the above are correct. TYPE: M DIFFICULTY: 1 SECTION: 15.0 2. On average over the past 50 years, the U.S. economy has grown at the rate of about 3. A short period of falling incomes and rising unemployment is called a 4. During recessions 5. During a recession the economy experiences a. rising employment and income. b. rising employment and falling income. c. rising income and falling employment. d. falling employment and income. ANSWER: d. falling employment and income. TYPE: M DIFFICULTY: 1 SECTION: 15.1 6. Business cycles 123
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124   Chapter 15/Aggregate Demand and Aggregate Supply 7. Business cycles 8. During recessions
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