Refer to the Information Provided in Figure 12

question 89

Multiple Choice

Refer to the information provided in Figure 12.1 below to answer the questions that follow.
Figure 12.1
-Refer to Figure 12.1.At aggregate output levels below $500 billion,this economy is most likely experiencing

• A)rapid increases in the growth rate of the money supply.
• B)a boom.
• C)excess demand.
• D)excess capacity.

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Definitions:

Barry Goldwater

An American politician and a five-term Senator from Arizona, known for sparking the resurgence of the conservative movement in the 1960s.

Civil Rights Movement

A social and political campaign in the United States during the 1950s and 1960s aimed at ending racial segregation and discrimination against African Americans.

New Deal

Franklin D. Roosevelt’s campaign promise, in his speech to the Democratic National Convention of 1932, to combat the Great Depression with a “new deal for the American people”; the phrase became a catchword for his ambitious plan of economic programs.

Libertarianism

A political philosophy that advocates for minimal government intervention in the personal and economic affairs of citizens, emphasizing individual liberty and free markets.