4 Answer the following questions on the basis of the following three sets of data for the country of North Vaudeville:(A)(B)Price(c)PricePriceLevelReal GDPLevelReal GDPLevelReal GDP11028510021011023510095260100235100235235100260285959023590210100235a. Which set of data illustrates aggregate supply in the immediate short run in North Vaudeville?The data in BThe short run?The data in AThe long run?The data in CD. Assuming no change in hours of work, if real output per hour of work decreases by 10 percent, what will be the new levels of realGDP in the right column of A?Instructions: Enter your answers rounded to 1 decimal place.At a price level of 110:At a price level of 100At a price level of 95:At a price level of 90:Does the new rdata refiect an increase in annregate Sunniv or does it inticate a decrease in anorenate sunnlv? Answer the following questions on the basis of the following three sets of data for the country of North Vaudeville:(A)Price(c)PriceLevelPriceLevelLevelReal GDPReal GOP200225Real GOP11027510011022522510025010010095225100250952259020010027590225a. Which set of data illustrates aggregate supply in the immediate short run in North Vaudeville?The data in BThe short run?The data in AThe long run?The data in Cb. Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of realGDP in the right column of A?Instructions: Enter your answers rounded to the nearest whole number.At a price level of 110:At a price level of 100:At a price level of 95:At a price level of 90

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Answer the following questions on the basis of the following three sets of data for the country of North Vaudeville: (A) Price (0) Price (C) Price Level Real GDP Level Real GDP Level Real GDP 235 110 285 100 210 110 100 260 235 100 235 260 100 235 95 100 95 235 235 90 210 100 285 90 a. Which set of data illustrates aggregate supply in the immediate short run in North Vaudeville? The data in B v The short run? The data in A The long run? The data in C v b. Assuming no change in hours of work, If real output per hour of work decreases by 10 percent, what will be the new levels of real GDP in the right column of A? Instructions: Enter your answers rounded to 1 decimal place. At a price level of 110 At a price level of 100 At a price level of 95: At a price level of 90.

Answer the following questions on the basis of the following three sets of data for the country of North Vaudeville: (A) Price (0) Price (C) Price Level Real GDP Level Real GDP Level Real GDP 235 110 285 100 210 110 100 260 235 100 235 260 100 235 95 100 95 235 235 90 210 100 285 90 a. Which set of data illustrates aggregate supply in the immediate short run in North Vaudeville? The data in B v The short run? The data in A The long run? The data in C v b. Assuming no change in hours of work, If real output per hour of work decreases by 10 percent, what will be the new levels of real GDP in the right column of A? Instructions: Enter your answers rounded to 1 decimal place. At a price level of 110 At a price level of 100 At a price level of 95: At a price level of 90.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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