Changes in GDP in the Long Run Are Determined Primarily

question 29

Multiple Choice

Changes in GDP in the long run are determined primarily by

• A)monetary policy.
• B)fiscal policy.
• C)demand.
• D)all of the above
• E) none of the above

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Definitions:

Seven Years' War

A global conflict fought between 1756 and 1763 that involved most of the great powers of the time and affected Europe, North America, Central America, the West African coast, India, and the Philippines.

Colonies' Economy

The economic systems and practices of European colonies, often characterized by agriculture, trade, and the exploitation of indigenous peoples and resources.

Treaty of Paris 1783

The agreement that ended the Revolutionary War, recognizing American independence from Britain and establishing the borders of the new nation.

Loyalists

Individuals, especially during the American Revolutionary War, who remained loyal to the British Crown and opposed the independence movement.