b. output and unemployment to fall. output to fall and unemployment to rise. output to rise and unemployment to fall. с d. 10 If the short-run aggregate supply curve (SRAS) is horizontal, then an increase in aggregate demand leads to: an increase in real output, an increase in the price level, and a decrease in unemployment. an increase in real output, a decrease in the price level, and a decrease in unemployment. an increase in real output, no change in the price level, and a decrease in unemployment. a decrease in real output, no change in the price level, and an increase in unemployment. а. b. с. sldepogei 19 Lox er sd Noldbet od chomecce b nf cecs broct SRA

b. output and unemployment to fall. output to fall and unemployment to rise. output to rise and unemployment to fall. с d. 10 If the short-run aggregate supply curve (SRAS) is horizontal, then an increase in aggregate demand leads to: an increase in real output, an increase in the price level, and a decrease in unemployment. an increase in real output, a decrease in the price level, and a decrease in unemployment. an increase in real output, no change in the price level, and a decrease in unemployment. a decrease in real output, no change in the price level, and an increase in unemployment. а. b. с. sldepogei 19 Lox er sd Noldbet od chomecce b nf cecs broct SRA

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 3CQQ

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Assume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on:1. aggregate demand, 2. aggregate supply, 3. price level, and 4. real GDP. (a) An increase in government expenditure in infrastructureClick or tap here to enter text.(b) A severe recession occurs in a country, which has been a major importer of thenation’s exports.Click or tap here to enter text.(c) The federal government increases business taxesClick or tap here to enter text.(d) The Central Bank increases the cash interest rate
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