CLEP Macroeconomics Terms & Definitions Practice Test

Question 1 of 3
72% Get this Question Right
Stagflation increase in price level and unemployment is caused by shocks to supply that shift AS leftward and result in a rightward shift in the Phillips curve supply shocks can be caused by droughts, technical snafus such as computer viruses, or restrictions on the use of resources occurred in the 1970s with oil
Crowding out
National debt
Supply shocks
Long run aggregate supply