Multiple Choice
The recession of 1973-1975 was unusual in that both inflation and unemployment increased at the same time.This suggests that the primary cause of the recession was an
A) inward shift of the aggregate demand curve.
B) outward shift of the aggregate supply curve.
C) inward shift of the aggregate supply curve.
D) outward shift of the aggregate demand curve.
Correct Answer:
Verified
Correct Answer:
Verified
Q125: Macroeconomists differ from microeconomists because macroeconomists focus
Q126: The period of 1973 to 1980 can
Q127: Economic aggregates are studied by microeconomists.
Q128: If aggregate demand shifts inward over a
Q129: Someone who studies the pricing policies of
Q131: The name given to government programs implemented
Q132: Combating recession may require the government to<br>A)decrease
Q133: The macroeconomic conditions during the mid-1990s confounded
Q134: For a macroeconomist, the case for aggregation
Q135: Gross domestic product is best described as