In the Medium Run, If GDP Goes Down but the Price

question 15

Multiple Choice

In the medium run, if GDP goes down but the price level goes up,

• A)the AD-curve must have shifted to the right
• B)the AD-curve must have shifted to the left
• C)the AS-curve must have shifted to the right
• D)the AS-curve must have shifted to the left
• E)the AD-curve and the AS-curve must have both shifted to the right

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Definitions:

Habeas Corpus

A legal writ employed to bring a party who has been criminally detained before a court to determine the legality of the detention; it is a protection against unlawful and indefinite imprisonment.

Just Compensation

The fair value that must be paid for property taken by the government through eminent domain.

EEOC v. Abercrombie

A landmark Supreme Court case where it was decided that employers cannot make hiring decisions based on religious practices unless they pose a direct hardship to the business.

Title VII

Part of the Civil Rights Act of 1964 prohibiting employment discrimination based on race, color, religion, sex, or national origin in the United States.