Aggregate Demand-Aggregate Supply Analysis Shows That in the Long Run

question 61

Multiple Choice

Aggregate demand-aggregate supply analysis shows that in the long run the effect of increased aggregate spending on real GDP is:

• A)negative.
• B)close to infinity.
• C)indeterminate.
• D)zero.
• E)positive.

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Definitions:

Second Wave

Refers typically to the second wave of feminism that took place in the late 20th century, focusing on issues of equality, sexuality, and reproductive rights.

Feminism

A way of thinking and acting that advocates a more just society for women.

Class Conflict

The tension or antagonism which exists in society due to competing socioeconomic interests and desires between people of different classes.

Marx

Marx refers to Karl Marx, a 19th-century philosopher, economist, and political theorist whose ideas about society, economics, and politics laid the foundation for the development of socialism and communism.