EC 141 Chapter 32 Assignment

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Park University *

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141

Subject

Economics

Date

Feb 20, 2024

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1

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What effects would each of the following have on aggregate demand or aggregate supply, other things equal? a. A widespread fear by consumers of an impending economic depression. Aggregate demand| @ will Q. b. A new national tax on producers based on the value added between the costs of the inputs and the revenue received from their output. Aggregate supply | @ will Q. c. A reduction in interest rates. Aggregate demand | @ will Q. d. A major increase in spending for health care by the federal government. Aggregate demand | @ will O. e. The general expectation of coming rapid inflation. |Aggregate demand| @ will Q. f. The complete disintegration of OPEC, causing oil prices to fall by one-half. |Aggregate supply| @ will Q. g. A 10 percent across-the-board reduction in personal income tax rates. |Aggregate demand| @ will Q. h. A sizable increase in labor productivity (with no change in nominal wages). |Aggregate supply| @ will Q. i. A 12 percent increase in nominal wages (with no change in productivity). |Aggregate supplyl @ will (v j- An increase in exports that exceeds an increase in imports (not due to tariffs). |Aggregate demand‘ @ will Q.
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