For Those Who Favor an Active Approach, Public Policy Changes

question 183

Multiple Choice

For those who favor an active approach, public policy changes are necessary to cure a contractionary gap because

• A)the short-run aggregate supply curve will otherwise shift quickly to the right
• B)prices and wages are flexible downward but not upward
• C)the required decrease in output can be achieved only by shifting the AD curve
• D)real wages must fall through price increases rather than waiting for money wages to fall
• E)falling money wages will cause the AD curve to shift leftward unless policy counters this movement

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