Answered: Recession? O a) rising real estate…

Recession? O a) rising real estate values O b) a decrease in income tax rates Oc) an increase in consumer confidence Od) a decrease in production resources

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter24: The Aggregate Demand/aggregate Supply Model

Section: Chapter Questions

Problem 3SCQ: The short run aggregate supply curve was constructed assuming that as the price of outputs...

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Question

Which of the following caused aggregate demand to decrease during the Great
Recession?
a) rising real estate values
O b) a decrease in income tax rates
Oc) an increase in consumer confidence
O d) a decrease in production resources
O e) reduced wealth from falling stock prices

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