QUESTION 41ACLRASLRAS_LRAS大大大40 5020 30 40 5020 30real GDP = Q20 30real GDP = Qreal GDP = Q605040302010P level010-AS-AD+40 50605040302010P level0-41. Which of the figures above illustrates an economy in long-run equilibrium?O a) Figure Ab) Figure Bc) Figure Co10BASAD605040302010P level010-ASAD

A model used in macroeconomics is the (AD/AS) model. It clarifies how an economy's price level and…

60 50 40 30 20 10 0 P level 0 10 A Ob) Figure B O c) Figure C LRAS 20 30 40 real GDP = Q -AS- AD 50 60 50 40 30 20 10 0 41. Which of the figures above illustrates an economy in long-run equilibrium? O a) Figure A P level 0 10 B LRAS 20 30 40 real GDPQ AS- AD 50 60 50 40 30 20 10 0 P level 0 10 C LRAS 20 30 real GDP = Q 40 -AS AD 50

60 50 40 30 20 10 0 P level 0 10 A Ob) Figure B O c) Figure C LRAS 20 30 40 real GDP = Q -AS- AD 50 60 50 40 30 20 10 0 41. Which of the figures above illustrates an economy in long-run equilibrium? O a) Figure A P level 0 10 B LRAS 20 30 40 real GDPQ AS- AD 50 60 50 40 30 20 10 0 P level 0 10 C LRAS 20 30 real GDP = Q 40 -AS AD 50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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36
Exhibit 13-1 Price Level a aa H LRAS Real GDP SRAS, Select one: O a. A-E-B-H-C O b. A-E-G-I-C O c. A-D-B-E-A O d. A-D-B-H-C e. A-E-B-I-C SRAS2 SRAS AD₁ ADS 32. Refer to Exhibit 13-1. A continued increase in the price of oil, combined with Fed attempts to respond to these oil shocks by increasing aggregate demand, is likely to take the economy along which of the following paths?
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Suppose our exports to Canada fall because of their recession. On impact, our will shift downward. Eventually, our will shift downward and the new equilibrium Tt will be O a. ADT; ASīt; higher O b. AST; ADt; higher AST; ADTt; lower O d. ADT; AST; lower
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Choose which statement is most correct. Nominal GDP must always equal potential GDP. O a. O b. Real GDP can never exceed potential GDP. O C. Nominal GDP can never exceed potential GDP. O d. Real GDP must always equal potential GDP. O e. At times, real GDP can exceed potential GDP.
When imports rise, net exports (We'll reuse this information in the next two questions.) rises; rises O rises; falls O falls; falls and aggregate demand falls; rises