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Question(s) / Instruction(s):

1. In the aggregate demand-aggregate supply model, economic growth can be illustrated by an a) inward shift of the aggregate supply curve b) inward shift of the aggregate demand curve c) Outward shift of the aggregate supply curve 2. According to the text, the government can use aggregate demand management policies to reduce unemployment rates. A byproduct of this policy will be a) an increase in the budget surplus b) a decrease in real GDP c) a decrease in the price level d) an increase in the price level 3. In periods of rising prices a) nominal GDP will not grow at all b) nominal GDP will grow faster than real GDP c) nominal GDP will grow slower than real GDP d) nominal GDP and real GDP will grow at the same rate

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