If Real GDP Increased by 3% Over the Next Year

question 23

Multiple Choice

If real GDP increased by 3% over the next year, we should expect

• A)a decrease in demand for M1 by 3%
• B)an increase in demand for M1 by 3%
• C)an increase in demand for M1 by more than 3%
• D)an increase in demand for M1 by less than 3%
• E)no change in demand for M1

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Definitions:

Reason For Refusal

A rationale provided to explain why a request, offer, or proposal has been declined.

Weak Reason

an argument or justification that lacks sufficient evidence, strength, or clarity, thus reducing its persuasiveness.

Omit

To leave out or exclude something, either intentionally or forgetfully.

Refusal

The act of declining or rejecting an offer, request, or invitation.