Exhibit 20A-2 Macro AD/AS Models

question 11

Multiple Choice

Exhibit 20A-2 Macro AD/AS Models

-In Panel (a) of Exhibit 20A-2,an expansionary Keynesian government stabilization policy designed to move the economy from Y₁ to Yp would shift the:

• A) aggregate demand curve (A
• D)to the left.
• B) aggregate demand curve (A
• D) to the right.
• C) SRAS rightward.
• D) LRAS rightward.

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Definitions:

Apparent Authority

The appearance or implication of an individual's authority to act on behalf of an organization, leading others to reasonably believe in the legitimacy of the actions.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another. Typically, a fiduciary is responsible for managing the assets of another person or of a group of people.

Secret Profit

Financial gain obtained secretly and unethically as a result of one's position or through the exploitation of confidential information.

Conflict of Interest

A situation where an individual's personal interests could improperly influence the performance of their duties or decision-making.