If a Decrease in Net Taxes in the United States

question 127

Multiple Choice

If a decrease in net taxes in the United States resulted in a very large increase in aggregate output and a very small increase in the price level, then the U.S. economy must have been

• A) on the very steep part of the short-run aggregate supply curve.
• B) on the very flat part of the short-run aggregate supply curve.
• C) on the very steep part of the short-run aggregate demand curve.
• D) on the very flat part of the short-run aggregate demand curve.

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