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One argument made against reducing the bureaucracy is that it would hurt the economy by reducing the purchasing power of the dismissed officeholders. What fallacy causes this argument to be made?

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Suppose that banks are less able to raise funds and so lend less. Consequently, because people and households are less able to borrow, they spend less at any given price level than they would otherwise. The crisis is persistent so lending and thus aggregate demand should remain depressed for some time. In the long run, if the Fed does not respond, the change in price expectations created by the crisis shifts1)short-run aggregate supply left.2)aggregate demand right.3)aggregate demand left.4)short-run aggregate supply right.

The computation of the average annual growth rate of real GDPA.involves simply averaging the growth rate for each​ year, but only if data for many years are available.B.is more complex when examining data for a long period of time than when examining data for only a few years.C.is the same for shorter periods of time as for longer periods of time.D.involves computing the percentage change in real GDP between the first year and the last year for the period being examined.

According to research by Rafael La Porta of Tuck School of Business at Dartmouth and Andrei Shleifer of Harvard​ University, in developing​ countries, the average firm in the informal​ sector, or underground​ economy, employs 4 workers as opposed to 126 workers employed by the average firm in the formal sector.​Sources: Rafael La Porta and Andrei​ Shleifer, "Informality and​ Development," Journal of Economic Perspectives​, Vol.​ 28, No.​ 3, Summer​ 2014, pp.​ 109-126.What is the informal​ sector, or underground​ economy?A.This is the part of the economy where production is heavily taxed by the government.B.This is the part of the economy characterized by the pollution and other negative externalities its production creates.C.The informal​ sector, or underground​ economy, is when production occurs in other countries.D.The informal sector is the sector of the economy where production is concealed from the government.

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