AP Macroeconomics Quiz
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NATIONAL INCOME AND PRICE DETERMINATION
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As the economy enters a recession, Real GDP falls from 20.0 trillion20.0\text{ trillion} to 19.0 trillion19.0\text{ trillion}. Without any new laws being passed, tax revenue falls from 4.0 trillion4.0\text{ trillion} to 3.7 trillion3.7\text{ trillion} and transfer payments rise from 1.0 trillion1.0\text{ trillion} to 1.3 trillion1.3\text{ trillion}. Which statement best explains how automatic stabilizers affect aggregate demand in the short run?
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