During the Great Recession, the U.S. aggregate demand curve shifted to the left, in part, because a) there was an increase in expected income. O b) U.S. housing prices increased. O c) the government dramatically increased taxes. d) there was a decrease in expected income.

During the Great Recession, the U.S. aggregate demand curve shifted to the left, in part, because a) there was an increase in expected income. O b) U.S. housing prices increased. O c) the government dramatically increased taxes. d) there was a decrease in expected income.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 6QR

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Question

During the Great Recession, the U.S. aggregate demand curve shifted to the left, in
part, because
a)
there was an increase in expected income.
O b) U.S. housing prices increased.
O c) the government dramatically increased taxes.
O d) there was a decrease in expected income.
e) the Federal Reserve increased interest rates.

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