17) The country exported goods worth $600M and services worth $200M. It imported goods worth $700M and services worth $40M. It sent $100M in famine relief to Africa, and received $300M to support its first democratic election efforts. What was the current account balance for this year? A) $260 million B) $350 million C) 800 million D) 920 million 18) According to the Keynesian framework, .. in . may cause inflation, but not a recession. A) decrease; interest rates. B) decrease; a major trading partner's export price. C) a decrease; a major trading partner's economy. D) an increase; domestic investment. Price AD2 AD, Real GDP 19) See above. A decrease in personal income taxes would be represented by a shift from A) AD 1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A. 20) An increase in government spending would be represented by a shift from A) AD] to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A. 21) GDP is up by 45B, and the spending is up by 9B, what is the expenditure multiplier? A) 2. B) 5. C) 4. D) 6 22) According to the short-run Phillips curve, low rates of the unemployment will bring? A) strong increases in aggregate supply B) a lower inflation rate C) strong increases in aggregate demand D) a higher inflation rate