Sophia Macroeconomics Final Milestone (5) -Complete Questions and Answers | GRADED A+

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Sophia Marcoeconomics Milestone 1 1 Which statement below is true about aggregate demand? In the long run, it is indicated by a vertical line. It represents the amount the economy can produce at ... different price levels. It slopes upward due to the interest rate effect. It slopes downward due to wealth efffect. CONCEPT Aggregate Supply and Aggregate Demand 2 Which of the following is the point in the business cycle that marks the lowest period of growth in GDP for a specific period? Expansion Recession Peak Trough CONCEPT Business Cycles - Expansionary/Recessionary (NBER) 3 If a new car cost $1,250 in 1950 and is $30,000 in 2013, prices have increased by a factor of which of the following? 48 12 20 24 CONCEPT Nominal GDP versus Real GDP 4 As the price level falls, people feel as if they have more money, so they spend more, which influences which of th [Show More]

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