Suppose That,as a Result of Accelerated Growth in the European

question 164

Essay

Suppose that,as a result of accelerated growth in the European countries,the demand for U.S.exports increases.
(A)If U.S.imports are unaffected,which way will the expenditure line shift?
(B)What will happen to the aggregate demand curve and the level of real GDP?
(C)If the U.S.economy was initially at potential GDP,is the economy now in a recession or an expansion?

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Definitions:

Sales Journal

A dedicated financial ledger designed for documenting all credit sales transactions.

Posting

The act of recording financial transactions in the ledger of an accounting system.

Account Numbers

are unique identifiers assigned to specific accounts in an accounting system to track financial transactions.

Purchases Journal

The purchases journal is a record of all purchases of goods intended for resale made by a business, listing amounts, suppliers, and dates.