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In discussing President Biden's attempts to increase theeconomic growth rate, a Wall Street Journal columnist...

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Economics

In discussing President Biden's attempts to increase theeconomic growth rate, a Wall Street Journal columnist notes that"expanding aggregate supply defies easy policy solutions." Source:Greg Ip, "Biden and Congress Still Haven't Made Inflation Centralin Budget Matters," Wall Street Journal, December 22, 2022. Is iteasier for a president and Congress to increase aggregate demand orincrease long-run aggregate supply? A. Aggregate supply, since thegovernment has no direct ability to increase aggregate demand. B.Aggregate demand, since the government can do that by increasinggovernment spending and/or reducing taxes. C. Aggregate demand,since the government can do that by decreasing government spendingand/or increasing taxes. D. Aggregate supply, since the governmentcan do that by decreasing interest rates and through open marketoperations.

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