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Unformatted text preview: E) short run growth from income movements. 3) 4) For the study of economic growth, it is most helpful to examine movements in ________; for the study of business cycles, it is most helpful to examine movements in ________. A) deviations from trend in GDP; deviations from trend in GDP B) trend GDP; trend GDP C) trend GDP; deviations from trend in GDP D) deviations from trend in GDP; trend GDP E) trend income; deviation from trend in income 4) 5) One consequence of government deficits is A) reduced consumer spending. B) reduced government borrowing. C) lower interest rates. D) redistribution of the tax burden from one group to another. E) lower taxes. 5) 1 Answer Key Testname: CH1 1) C Page Ref: P. 3 2) E Page Ref: P. 5 3) D Page Ref: P. 6 4) C Page Ref: P. 6 5) D Page Ref: P. 17 2...
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This note was uploaded on 02/27/2011 for the course ECON 2051 taught by Professor Mckeon during the Spring '11 term at UWO.
- Spring '11