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Question 9 Refer to Figure 3. A decrease in taxes would move the economy from B to OB in the short run and the long run. D in the short run and the long run. O B in the short run and A in the long run. D in the short run and C in the long run. O C in the short run and the long run.

Question 9 Refer to Figure 3. A decrease in taxes would move the economy from B to OB in the short run and the long run. D in the short run and the long run. O B in the short run and A in the long run. D in the short run and C in the long run. O C in the short run and the long run.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterB: Indifference Curves
Section: Chapter Questions
Problem 4RQ: Exercise B4 How many indifference curves does a person have?
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Question 9 Refer to Figure 3. A decrease in taxes would move the economy from B to OB in the short run and the long run. OD in the short run and the long run. OB in the short run and A in the long run. OD in the short run and C in the long run. O C in the short run and the long run. Question 10 Refer to Figure 3. If the economy starts at C, a decrease in the money supply moves the economy O to B in the long run. O to C in the long run. Oto A in the long run. O to D in the long run. Question 11 Refer to Figure 3. If the economy is at A and there is a increase in aggregate demand, in the short run the econom Ostays at A. O moves to B. O moves to C. O moves to D.
Transcribed Image Text:Question 9 Refer to Figure 3. A decrease in taxes would move the economy from B to OB in the short run and the long run. OD in the short run and the long run. OB in the short run and A in the long run. OD in the short run and C in the long run. O C in the short run and the long run. Question 10 Refer to Figure 3. If the economy starts at C, a decrease in the money supply moves the economy O to B in the long run. O to C in the long run. Oto A in the long run. O to D in the long run. Question 11 Refer to Figure 3. If the economy is at A and there is a increase in aggregate demand, in the short run the econom Ostays at A. O moves to B. O moves to C. O moves to D.
Use for questions 9-11 PRICE LEVEL B LRAS C A D AD₂ QUANTITY OF OUTPUT SRAS, SRAS: AD₁
Transcribed Image Text:Use for questions 9-11 PRICE LEVEL B LRAS C A D AD₂ QUANTITY OF OUTPUT SRAS, SRAS: AD₁
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