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4. Which one of the following newspaper quotations describes a shift to the left of the potential GDP curve? A) "The decrease in consumer spending may lead to a recession. B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP." H C) "Recent higher wage settlements are expected to cause higher inflation this year." D) "The recent tornadoes destroyed many factories in Calgary and Edmonton." "

4. Which one of the following newspaper quotations describes a shift to the left of the potential GDP curve? A) "The decrease in consumer spending may lead to a recession. B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP." H C) "Recent higher wage settlements are expected to cause higher inflation this year." D) "The recent tornadoes destroyed many factories in Calgary and Edmonton." "

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
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4. Which one of the following newspaper quotations describes a shift to the left of the potential GDP curve? A) "The decrease in consumer spending may lead to a recession. B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP." C) "Recent higher wage settlements are expected to cause higher inflation this year." D) "The recent tomadoes destroyed many factories in Calgary and Edmonton."
Transcribed Image Text:4. Which one of the following newspaper quotations describes a shift to the left of the potential GDP curve? A) "The decrease in consumer spending may lead to a recession. B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP." C) "Recent higher wage settlements are expected to cause higher inflation this year." D) "The recent tomadoes destroyed many factories in Calgary and Edmonton."
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