All of the Following Are Likely Reasons for the 2007-09

question 53

Multiple Choice

All of the following are likely reasons for the 2007-09 recession in the United States except

• A)a rightward shift of the AD curve.
• B)an upward shift of the IA line.
• C)an increase in potential GDP.
• D)a decrease in potential GDP.
• E)an increase in aggregate supply.

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Definitions:

Life Insurance

A contract between an insurer and a policyholder that pays a designated beneficiary a sum of money upon the death of the insured person.

Necessary

Something essential or required in a particular situation, often used to describe conditions or actions needed to achieve a specific result.

Social Status

The position or rank of a person or group within the society, often determined by wealth, occupation, education, or family lineage.

Express Ratification

The explicit, formal approval or confirmation of an act or contract by the person who is bound by the act or contract, typically done after the act has been completed.