When the economy is operating at a relatively low level of GDP, expansionary fiscal policy will cause
Question:
When the economy is operating at a relatively low level of GDP, expansionary fiscal policy will cause
a. Large increases in output but small increases in the price level.
b. Large increases in output and large increases in the price level.
c. Small increases in output and small increases in the price level.
d. Small increases in output and large increases in the price level.
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Related Book For 
Introduction To Economics Social Issues And Economic Thinking
ISBN: 9780470574782
1st Edition
Authors: Wendy A. Stock
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