Use the Following to Answer Questions

question 76

Multiple Choice

Use the following to answer questions
Figure: Determining Long Run and Short Run Economic Shifts
-(Figure: Determining Long Run and Short Run Economic Shifts) Starting at point r,the economy will move to ____ in the short run if policymakers successfully increase aggregate demand.

• A) m
• B) s
• C) j
• D) n

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Definitions:

Federal

Pertaining to a system of government in which power is divided between a central authority and constituent political units.

Medicare

A federal health insurance program primarily for people aged 65 and older, but also available for some younger people with disabilities.

U.S. Residents

Individuals who live in the United States, including citizens, permanent residents, and those on certain visas.

Policy Formulation

The development of plans and actions by governments or organizations to address public issues or problems through laws, regulations, decisions, or actions.