A breakthrough in solar energy research that halves the cost of electricity will have no effect on the aggregate supply curve. shift the aggregate supply curve to the right. cause the aggregate supply curve to become vertical. shift the aggregate supply curve to the left.
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- An increase in the price level causes the aggregate supply curve to shift to another supply schedule. True or False(Figure: Determining SRAS Shifts) If there are advances in technology, the short-run aggregate supply curve will shift from SRAS to and the price level will shift to Aggregate Price Level (P) P₂ Po Q SRAS2; P1 SRAS1; P1 SRAS2; P2 SRAS1; PO SRAS2 Q₂ Qo Q₁ Aggregate Output (Q) SRASO AD SRAS₁An increase in the price of an imported resource will cause, Group of answer choices: The aggregate supply curve to remain the same. The Aggregate supply curve to shift to the right The Aggregate supply curve to shift to the left a movement along the Aggregate supply curve The economy to operate in the long-run
- Which of the following would cause the aggregate supply curve to decrease? better equipment and increasing output throughout the economy. a tax cut to businesses. an increase in investor confidence leads to more investment. a rapid increase in energy prices throughout the country.Europe and Asia both fall into deep economic recessions. What impact will this have on U.S. aggregate demand? OPTIONS: U.S. aggregate demand curve will shift to the right. U.S. aggregate demand will remain unchanged. None. A nation’s aggregate demand is only affected by its own economic conditions. U.S. aggregate demand will decrease.Your company sells wristwatches in three separate markets: China, Japan and Korea. The demand curves are 9c = 50 9j = 75 - - qk 100 4 2 Pc P₁ · Pk. a) Calculate and plot the inverse demand curve for each market. b) Calculate your aggregate demand curve. c) Calculate and plot your inverse aggregate demand curve.
- If aggregate supply is vertical, then which of the following statements must be true? Aggregate demand does not affect the quantity of output. Inflation creates greater social benefits. Inflation will accompany any rise in output. Aggregate demand does not cause inflationary changes in price level.When does macroeconomic equilibrium occur? Multiple Choice When exports equal imports. When the aggregate supply equals the long-run Aggregate Supply When the aggregate demand equals the long-run Aggregate Supply. When the aggregate quantity demanded is equal to the aggregate quantity supplied.improvements in productivity shift the aggregate supply curve outward. true false
- Which of the following would shift the U.S. aggregate demand curve to the left? Select all correct answers. A drought reduces agricultural production. The economy of China slows and buys even fewer U.S.-made goods, An improvement in technology allows production to be more efficient. There is a rise in unemployment, decreasing the aggregate income of households. The value of the dollar decreases relative to foreign currencies.If the aggregate demand is 300 + 50P and the aggregate supply is 100 + 60P calculate the value of PIn 2006, the economy of Singsville had an aggregate demand and aggregate supply according to the following schedule:Price level Aggregate Demand Short-Run Aggregate Supply100 $1445 $1085110 $1380 $1140120 $1315 $1195130 $1250 $1250140 $1185 $1305150 $1120 $1360160 $1055 $1415 What was the equilibrium price level in Singsville in 2006?