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1. Suppose that population growth slows because of new laws that make it harder for foreign...

1. Suppose that population growth slows because of new laws that make it harder for foreign citizens to move to the United States. The slowdown in population growth is especially noticeable among working age adults (those aged 16 and older) . The predicted effect on the economy In the short-run is: the price level will ________ and real GDP will __________.

remain unchanged, remain unchanged

increase; increase

decrease; decrease

increase; decrease

increase; remain unchanged

decrease; increase

2. Suppose government spending increases. The predicted effect on the economy In the short-run is: the price level will ________ and real GDP will __________.

increase; remain unchanged

decrease; increase

increase; increase

increase; decrease

decrease; decrease

3.Suppose the value of the dollar increases. The predicted effect on the economy In the long-run is: the price level will ________ and real GDP will __________.

increase; decrease

decrease; increase

increase; increase

increase; remain unchanged

decrease; remain unchanged

decrease; decrease
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