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Please let me know if my answer is correct. I am between C and D. If you can please also let me know why the other choices aren't correct
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- In 1998, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply 70 $1415.00 $1115.00 80 $1360.00 $1160.00 90 $1305.00 $1205.00 100 $1250.00 $1250.00 110 $1250.00 $1295.00 120 $1140.00 $1340.00 130 $1085.00 $1385.00 What was the equilibrium price level in Aptonville in 1998?In March 2020, as the Covid-19 recession hit the world, consumers became pessimistic about their future incomes. How did this increased pessimism affect the aggregate demand curve in the year 2020? Group of answer choices This will shift the aggregate demand curve to the right. This will move the economy down along a stationary aggregate demand curve. This will move the economy up along a stationary aggregate demand curve. This will shift the aggregate demand curve to the left.In 1999, the economy of Mistania had an aggregate demand and aggregate supply according to the following schedule: Price Level Aggregate Demand Shortrun aggregate supply longrun aggregate supply 30 $1395 $1125 $1200 40 $1330 $1150 $1200 50 $1265 $1175 $1200 60 $1200 $1200 $1200 70 $1135 $1225 $1200 80 $1070 $1250 $1200 90 $1005 $1275 $1200 If Mistania decreases spending, would this more likely result in cyclical unemployment or inflationary pressures in the following year - i.e, in 2000? Cyclical unemployment/Inflationary pressures
- 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.In 2003, the economy of Microtania had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 90 $1125.00 $1320.00 100 $1200.00 $1320.00 110 $1275.00 $1320.00 120 $1350.00 $1320.00 130 $1425.00 $1320.00 140 $1500.00 $1320.00 150 $1575.00 $1320.00 $1575.00 $1500.00 $1425.00 $1350.00 $1275.00 $1200.00 $1125.00 What was Microtania's short-run equilibrium output 2003? $| Calculate Microtania's output gap: $Aggregate Supply Aggregate Demand Price Level rGDP Price level rGDP 115 620 100 660 640 120 110 650 125 660 640 120 130 680 130 630 140 700 140 620 150 712 150 610 160 722 160 600 170 730 170 590 You may find the “Centauri 2112" Excel file useful in your efforts. The AI that runs your actuarial department has calculated that, at any price level, Centauri's aggregate demand has the equation AD = 0.75(Y – T) + G, where Y is real GDP, T is total taxes, I is investment and G is government spending. Everything is measured in billions of 2099 Cents (denoted C). The government reports that taxes are T = 60 and government expenditures are G = 205. a) By how much will a 10-Cent decrease in taxes T increase Aggregate Demand? b) By how much will a 10-Cent increase in government spending G increase Aggregate Demand?. c) Which policy is a more effective way to change Aggregate Demand? d) Determine a policy that will return the Centauri economy to its long-run equilibrium. That is, figure out a…
- In 2004, the economy of Minitown had an aggregate demand and aggregate supply according to the following schedule: PRice level Aggregate Demand Short-run Aggregate supply Long run aggregate supply 100 $1625 $1205 $1370 110 $1550 $1270 $1370 120 $1475 $1335 $1370 130 $1400 $1400 $1370 140 $1325 $1465 $1370 150 $1250 $1530 $1370 160 $1175 $1595 $1370 What was Minitown’s short-run equilibrium output in 2004?In 2010, the economy of Quarterville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 90 $1505.00 $1205.00 $1465.00 100 $1470.00 $1270.00 $1465.00 110 $1435.00 $1335.00 1 $1465.00 120 $1400.00 $1400.00 $1465.00 130 $1365.00 $1465.00 $1465.00 140 $1330.00 $1530.00 $1465.00 150 $1595.00 $1465.00 $1295.00 What was Quarterville's long-run equilibrium output in 2010? $|In 1997, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 40 $1105.00 $1400.00 50 $1170.00 $1400.00 60 $1235.00 $1400.00 70 $1300.00 $1400.00 80 $1365.00 $1400.00 90 $1430.00 $1400.00 100 $1495.00 $1400.00 $1495.00 $1430.00 $1365.00 $1300.00 $1235.00 $1170.00 $1105.00 What was Aptonville's short-run equilibrium output in 1997? $|| If Aptonville cut taxes, how would short-run equilibrium quantity change? Increase ODecrease
- In 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?As you know, supply and demand shifts are caused by one of their determinants. Shifts in aggregate demand (AD) show the effect of events on price level and Real GDP. Any event that causes a change in consumer, business, or government spending or any change in net exports (C+l+G+Xn) will shift AD. Any event that causes a change in production costs or increases productivity will shift aggregate supply (AS). Decide if the following events are Micro, shifting supply or demand, or Macro, shifting AD or AS. Give the direction in which the graph shifts. Demand Situation Aggregate Supply Aggregate Demand Supply Sales of Atlanta Braves gear grows with the success of the team. 1. The President and Congress pass a trillion dollar stimulus bill to provide aid during recession. 2. 3. Salmonella outbreak in peanut processing plants threatens lunches for school children. 4. Pomegranates are shown to be cancer fighting superfoods. Value of U.S. dollars declines, exports increase. 5. Global oil prices…The following table lists several determinants of aggregate supply. Fill in the table by indicating the changes in the determinants necessary to increase aggregate supply. Determinant Prices of Nonlabor Inputs Productivity Nominal Wage Rate Change Needed to Increase Short-Run Aggregate Supply