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If the Actual Output Lies Below Potential Output, Then an Appropriate

question 62

Multiple Choice

If the actual output lies below potential output, then an appropriate fiscal policy would be to _____, which will shift the _____ curve to the _____.


Definitions:

Collusively

In a manner where firms in an industry work together secretly to set prices or otherwise manipulate market conditions to their advantage.

ATC Schedule

A tabulation of average total costs at different levels of output, showing how costs vary with changes in output.

Demand Schedule

A demand schedule is a table that shows the quantity of goods or services demanded at different price levels.

TR

Total Revenue, which is the total income generated from the sale of goods or services.

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