Figure 12.4LRAS2LRAS,P2ADAD2Real GDP (billions of dollars)Refer to Figure 12.4. A movement from equilibrium point B to equilibrium point A wouldbe the result ofO an increase in productivity and an increase in government spending.O an increase in consumer confidence and decrease in productivity.an increase in production costs and greater consumer confidence.O technological advances and domestic price decreases.Price Level (dollars)P,

AnswerFrom A to B there are two changes one is the right shift of LRAS and the second is a right…

Figure 12.4 LRAS2 LRAS, AD AD2 0. Real GDP (billions of dollars) Refer to Figure 12.4. A movement from equilibrium point B to equilibrium point A would be the result of an increase in productivity and an increase in government spending. an increase in consumer confidence and decrease in productivity. an increase in production costs and greater consumer confidence. technological advances and domestic price decreases. Price Level (dollars)

Figure 12.4 LRAS2 LRAS, AD AD2 0. Real GDP (billions of dollars) Refer to Figure 12.4. A movement from equilibrium point B to equilibrium point A would be the result of an increase in productivity and an increase in government spending. an increase in consumer confidence and decrease in productivity. an increase in production costs and greater consumer confidence. technological advances and domestic price decreases. Price Level (dollars)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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