QUESTION 4Exhibit 5-2: The Aggregate Demand and Supply DiagramLong-RunAggregateSupplyShort-RunAggregateSupplyAggregateDemandReal GDPIn the Aggregate Demand and Supply model (shown), a rightwardshift of the short-run aggregate supply curve would result in an increase inthe unemployment rate and deflation.QUESTION 5Exhibit 5-2: The Aggregate Demand and Supply DiagramLong-RunAggregateSupplyShort-RunAggregateSupplyAggregateDemandReal GDPIn the Aggregate Demand and Supply model (shown), a leftwardshift of the aggregate demandcurve would result in a decrease inthe unemployment rate and deflation.*Please tell me the correct answers, thank you!!***

QUESTION 4 Exhibit 5-2: The Aggregate Demand and Supply Diagram Long-Run Aggregate Supply Short-Run Aggregate Supply Aggregate Demand Real GDP In the Aggregate Demand and Supply model ishown, a rightward • shift of the short-run aggregate supply curve would resuk in an increase in the unemployment rate and deflation. QUESTION S Exhib 5-2: The Aggregate Demand and Supply Diagram Long-Run Aggregate Supply Short-Run Aggregate Supply Aggregate Demand Real GDP shit of the egne dermand Jaurve would result in a decrese in In the Aggregate Demand and Supply model (shown, a wtward the unemployment rate and deflacion. *Please tell me the correct answers, thank you!!***

QUESTION 4 Exhibit 5-2: The Aggregate Demand and Supply Diagram Long-Run Aggregate Supply Short-Run Aggregate Supply Aggregate Demand Real GDP In the Aggregate Demand and Supply model ishown, a rightward • shift of the short-run aggregate supply curve would resuk in an increase in the unemployment rate and deflation. QUESTION S Exhib 5-2: The Aggregate Demand and Supply Diagram Long-Run Aggregate Supply Short-Run Aggregate Supply Aggregate Demand Real GDP shit of the egne dermand Jaurve would result in a decrese in In the Aggregate Demand and Supply model (shown, a wtward the unemployment rate and deflacion. *Please tell me the correct answers, thank you!!***

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ans ences rations If in Year 1 the price level was 100 and real GDP was $20 trillion and in Year 2 the price level was 105 and real GDP was $21 billion, then the predominant change that occured in Year 2 was OA a decrease in aggregate demand. B. an increase (shift to the right) in short-run aggregate supply. OC. a decrease (shift to the left) in short-run aggregate supply OD. an increase in aggregate demand.
Suppose now the government passes a law that significantly increases the minimum wage. This change in policy will cause the natural rate of unemployment to which will: • Shift the long-run aggregate supply curve to the right O Not impact the long-run aggregate supply curve O Shift the long-run aggregate supply curve to the left Complete the following table by determining how each event impacts the position of the long-run aggregate supply (LAS) curve. Direction of LRAS Curve Shift A government-sponsored training program increases the skill level of the workforce. Many workers leave to pursue more lucrative careers in foreign economies. A scientific breakthrough significantly increases food production per acre of farmland.
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170 Price 140 level 120 100 D AD5 AD4 AD 3 AD, AD2 3.0 4.0 5.0 6.0 7.0 8.0 Real GDP In Exhibit 20-8, if aggregate demand shifts from AD₁ to AD3, O a. real GDP will increase from $3.0 to $4.0, and the price level will increase from 100 to 140. Ob. real GDP will increase from $3.0 to $7.0, and the price level will increase from 100 to 120. Oc. real GDP will increase from $3.0 to $7.0, and the price level will increase from 100 to 140. Od. real GDP will increase from $3.0 to $4.0, and the price level does not change.
3. In Keynesian short run aggregate supply curve segment what happens to the price and income (GDP) if the aggregate demand curve shifts outward or inward and why
1. The basic aggregate demand and aggregate supply curve model help explain A) fluctuations in real GDP and the price level. B) long-term growth. C) price fluctuations in an individual market. D) output fluctuations in an individual market. 2. The demanded. shows the relationship between the price level and quantity of real GDP A) consumer price index B) aggregate expenditure line C) 45-degree line D) aggregate demand curve
Which of the following causes the short-run aggregate supply curve to shift to the right? O A. an increase in the expected price of an important natural resource B. a positive technological change O C. a higher expected future price level O D. a decrease in the capital stock
Figure 6 PRICE LEVEL LRAS Y, Y₂ QUANTITY OF OUTPUT SRAS; SRAS, AD 15. Refer to Figure 6. Starting from point A and assuming that aggregate demand is held constant, in the long run the economy is likely to experience a a. falling price level and a falling level of output, as the economy moves to point C. b. rising price level and a falling level of output, as the economy moves to point B. c. falling price level and a rising level of output, as the economy moves to point B. d. rising price level and a rising level of output, as the economy moves to point C.