During the Recession of 2001, the Leftward Shifts in Aggregate

question 7

Multiple Choice

During the recession of 2001, the leftward shifts in aggregate demand and aggregate supply that occurred at that time necessarily reduced

• A) real GDP only.
• B) the price level only.
• C) real GDP and the price level.
• D) potential output.

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Definitions:

Vitamin Supplement

Dietary additions that provide nutrients, such as vitamins or minerals, to improve health beyond what is provided by food intake.

Independent Variable

The variable in an experiment that is manipulated or changed to observe its effect on the dependent variable.

Silent Versus Conversation

Describes the comparison or contrast between situations where silence is maintained against those where conversation occurs.

Scientific Journal

A publication intended to further the progress of science, typically by reporting new research findings peer-reviewed by experts in the field.