3. According to By the Numbers, the personal savings rate trended upward during the last five econom Personal savings might increase during a recession because of O high unemployment and income anxicty. an increase in interest rates. an increase in the prices of the products. an increase in per capita income.
3. According to By the Numbers, the personal savings rate trended upward during the last five econom Personal savings might increase during a recession because of O high unemployment and income anxicty. an increase in interest rates. an increase in the prices of the products. an increase in per capita income.
Chapter14: Aggregate Demand And Supply
Section14.A: The Self Correcting Aggregate Demand And Supply Model
Problem 6SQP
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Transcribed Image Text:Introduction to Macroeconomics: End of Chapter Problem
18. According to By the Numbers, the personal savings rate trended upward during the last five economic recessions.
Personal savings might increase during a recession because of
high unemployment and income anxiety.
an increase in interest rates.
an increase in the prices of the products.
an increase in per capita income.
Anna Graham is the new Treasury Secretary, and she is trying to interpret some inflation measures. In year one, the aggregate
price level increased by 7% and in year two, the aggregate price level decreased by 1%.
Which statement accurately characterizes the changes in the nation's price level?
O In year one, the economy is experiencing inflation. In year two, the economy is also experiencing inflation.
O In year one, the economy is experiencing inflation. In year two, the economy is experiencing deflation.
In year one, the economy is experiencing deflation. In year two, the economy is experiencing disinflation.
In year one, the economy is experiencing deflation. In year two, the economy is experiencing inflation.
O O O O
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