Table 27-1 -Refer to Table 27-1. Consider the Hypothetical Information in the Hypothetical

question 24

Multiple Choice

Table 27-1

-Refer to Table 27-1. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2018 and in 2019 if Congress and the president do not use fiscal policy. If Congress and the president want to keep real GDP at its potential level in 2019, they should

• A) decrease income taxes.
• B) decrease government purchases.
• C) decrease the money supply.
• D) increase the level of interest rates.

Differentiate between active and passive economic policies and their impact on business cycles.

Understand the long-run self-correction mechanisms in the economy.

Understand the complexities of social norms and their negotiation in society.

Comprehend the concepts and implications of impression management in social interactions.

---

Definitions:

Machine Language

A low-level programming language that is directly understood by the computer's CPU, consisting of binary or hexadecimal instructions.

Low-Level Language

A Low-Level Language is a programming language that provides little or no abstraction from a computer's instruction set architecture, closer to machine code.

% Modulus

The operator used in arithmetic to find the remainder of division between two integers.

Common Use

A term describing typically frequent or widespread application or utilization of something.