Consider the Following Two Headlines Appearing in the Same Day

question 50

Multiple Choice

Consider the following two headlines appearing in the same day: "Federal government announces major new infrastructure investments" and "New technology drives down transport costs." Choose the statement below that best describes the likely macroeconomic effects.

• A)The AS curve shifts to the left; the price level rises and real GDP falls.
• B)The AS curve shifts to the right; the price level falls and real GDP rises.
• C)The AD curve shifts to the left; the price level falls and real GDP falls.
• D)The AD curve shifts to the right; the price level rises and real GDP rises.
• E)The AD and AS curves both shift to the right; the effect on the price level is indeterminate and real GDP rises.

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Definitions:

Legal Fees

The charges that lawyers or law firms make for their services, which can include hourly rates, flat fees, or contingent fees based on the outcome of a case.

Fee Mediation

A service that helps resolve disputes over fees charged, often related to professional services.

Court Official

An individual who works within the judicial system and is responsible for ensuring the smooth operation of legal proceedings.

Lawyer Fees

The charges or costs paid to a lawyer for legal services provided.