Which of the following likely occurs when households and firms are pessimistic?
A) Increased spending, increased aggregate demand, rising real GDP and a falling unemployment rate.
B) Decreased spending, increased aggregate demand, rising real GDP and a falling unemployment rate.
C) Decreased spending, decreased aggregate demand, falling real GDP and a falling unemployment rate.
D) Decreased spending, decreased aggregate demand, falling real GDP and a rising unemployment rate.
Correct Answer:
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