Figure 33-5.P1P2P3LRAS(A(BY1 Y2SRASIADSRAS228. Refer to Figure 33-5. The shift of the short-run aggregate-supply curve from SRAS1 to SRAS2a. could be caused by an outbreak of war in the Middle East.b. could be caused by a decrease in the expected price level.c. causes the economy to experience an increase in the unemployment rate.d. causes the economy to experience stagflation. 30. Refer to Figure 33-5. In Figure 33-5,a. Point B represents a short-run equilibrium and a long-run equilibrium.b. Point B represents a short-run equilibrium, and Point A represents a long-run equilibrium.c. Point B represents a long-run equilibrium, and Point A represents a short-run equilibrium.d. Point B represents a long-run equilibrium, and Point C represents a short-run equilibrium.Practice Questions for Module 5 and 629. Refer to Figure 33-5. Starting from point B and assuming that aggregate demand is held constant, in the long run theeconomy is likely to experiencea. a falling price level and a falling level of output, as the economy moves to point C.b. a falling price level and a rising level of output, as the economy moves to point A.c. a rising price level and a falling level of output, as the economy moves to point A.d. a rising price level and a rising level of output, as the economy moves to point C.

John Maynard Keynes introduced the AD-AS (Aggregate Demand-Aggregate Supply) model as part of his…

Figure 33-5. P1 P2 P3 LRAS [B YI Y2 SRASI AD SRAS2 } 28. Refer to Figure 33-5. The shift of the short-run aggregate-supply curve from SRAS1 to SRAS2 a. could be caused by an outbreak of war in the Middle East. b. could be caused by a decrease in the expected price level. c. causes the economy to experience an increase in the unemployment rate. d. causes the economy to experience stagflation.

Figure 33-5. P1 P2 P3 LRAS [B YI Y2 SRASI AD SRAS2 } 28. Refer to Figure 33-5. The shift of the short-run aggregate-supply curve from SRAS1 to SRAS2 a. could be caused by an outbreak of war in the Middle East. b. could be caused by a decrease in the expected price level. c. causes the economy to experience an increase in the unemployment rate. d. causes the economy to experience stagflation.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Which of the following would cause the Aggregate Supply curve to move from AS to AS2 in the graph below? Price Level 150 140 130 120 110 100 90 80 70 60 0 5 10 15 Real GDP ($ billion) AS -AD-AS2 O A federal government increase in spending. O A general increase in energy and labor cost for businesses. O An increase in productivity. O A general decrease in labor cost for businesses. 20 25
3. Explain whether each of the following events will increase, decrease, or have no effect on longrun aggregate supply in your country. a. There is an increase in immigration into your country. b. Your government introduces a minimum wage above the market-clearing wage rate. c. Intel invents a new and more powerful computer chip. d. A severe flood damages factories.
An improvement in the level of technology in an economy will result in An upward movement along the aggregate supply curve An outward shift of the aggregate supply curve O A downward movement along the aggregate supply curve An inward shift of the aggregate supply curve
✔ 2 Aplia Assignment Ch 20 4. Determinants of aggregate supply The following graph shows a decrease in short-ron aggregate supply (AS) in a hypothetical economy where the currency is the dollar Specifically, the short-un aggregate supply curve shifts to the left from AS, to AS, causing the quantity of output supplied at a price level of 100 to fall from $200 billion to $150 billion K 1 1 **### PRICE LEVEL 200 20 QUANTITY OF OUTPUT 380 400 The following table lists several determinants of short-run aggregate supply. Regulations on the firm Tax rates Input prices Complete the table by selecting the changes in each scenario necessary to decrease short-run aggregate supply Change Necessary to Decrease AS Grade It Now Save & Continue Continue without saving
Refer to the following figure 1. For this economy, if the actual price level exceeds theexpected price level, how much output will the economyproduce in the short-run? A)$17 trillionB)$17.2 trillionC)$16.7 trillionD) Both A and C.2. Given the situation in part (a), this economy wouldexperience A) a recessionary gap of $0.3 trillionB) an expansionary gap of $0.2 trillionC) neither a recessionary gap nor an expansionary gap.D) an expansionary gap of $17.2 trillion. 3. Given the situation in part (a), in this economy (circlethe letter representing the right answer below)A) the actual rate of unemployment would be less than thenatural rate of unemployment.B) the actual rate of unemployment would be above the naturalrate of unemployment.C) the actual rate of unemployment would be equal to thenatural rate of unemployment.D)none of the above.4. In this economy, given the situation in part (a), in thelong-run (circle the letter representing the right answerbelow)A) the nominal wage…
es/118790/quizzes/952344/take OS D SU My ASU ASU CANVAS Question 2 Which of the following would cause a shift in the short-run aggregate supply curve, but no change in the long-run aggregate supply curve? O an increase in the size of the labor force an increase in the wage rate an increase in the quantity of capital O all of the above would shiftboththe long-run aggregate supply curve and the short-run aggregate supply curve. Question 3 Which of the following would NOT lead to a shift in the long- run aggregate supply curve? O An increase in the money supply. 1
sjsjej3jh3h. not use ai please
Which economic condition would most likely be experienced if aggregate supply shifts from AS to AS2 as in the graph below?
18 19 20 21 22 23 24 25 26 28 AS AS, AS3 P3 AD Q2 Q, Q3 Real Domestic Output Refer to the graph. If aggregate supply shifts from AS1 to AS2, what will happen to price level and real domestic output? ( For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). 10pt 三v A V Ix B Paragraph Arial x X, 由田国田田 +] I| |田 Price Level
a. What are the short-run equilibrium real GDP and price level in 2019?b. What is the long-run equilibrium real GDP?c. Is the short-run macroeconomic equilibrium a full-employment equilibrium, belowfull-employment equilibrium, or above full-employment equilibrium?d. In transition to the long run, how would the wages in this economy change?e. Following from d, explain how would the short run supply curve move to its long runposition, as the changes in the nominal wages take effect.f. What will the long run price level be?
Which of the following would cause the Aggregate Supply curve to move from AS to AS2 in the graph below? A) A general increase in energy and labor cost for businesses. B) A general decrease in labor cost for businesses. C) An increase in productivity. D) A federal government increase in spending.
Aggregate demand is more likely to than aggregate supplyl in the short run a- bigger leakages b-national income c-domestic investment d- shift substantually