Potential GDP Increased from 4

question 54

Multiple Choice

Potential GDP increased from 4.7 trillion to 16.6 trillion between 1970 and 2013 resulting in economic growth.Also,during this time ________ occurred because ________.

• A)inflation;aggregate demand decreased by more than potential GDP
• B)stagflation;aggregate demand increased by more than potential GDP
• C)deflation;aggregate demand increased by more than potential GDP
• D)inflation;aggregate demand increased by more than potential GDP
• E)inflation;aggregate demand increased by less than potential GDP

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Definitions:

Sectional Disputes

Conflicts and disagreements between different regions or sections of a country, often based on economic, cultural, or political differences.

Whigs

A political faction and later a political party in the parliaments of England, Scotland, Great Britain and the United Kingdom, advocating for constitutional monarchism and parliamentary supremacy.

Economic Problems

Issues affecting the financial stability, growth, and sustainability of an economy, often characterized by inflation, unemployment, and recession.

Slave Power

A term used to describe the perceived political power held by slave owners in the United States pre-Civil War, influencing legislation and government.