4. Which one of the following newspaper quotations describes a shift to the left of the potential GDP curve? A) "The decrease in consumer spending may lead to a recession. B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP." H C) "Recent higher wage settlements are expected to cause higher inflation this year." D) "The recent tornadoes destroyed many factories in Calgary and Edmonton." "

4. Which one of the following newspaper quotations describes a shift to the left of the potential GDP curve? A) "The decrease in consumer spending may lead to a recession. B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP." H C) "Recent higher wage settlements are expected to cause higher inflation this year." D) "The recent tornadoes destroyed many factories in Calgary and Edmonton." "

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 36P: If inflation rises unexpectedly by 5, indicate for each of the following whether the economic actor...

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