please zoom in to see Question 5Which of the statements below would NOT cause a shift in aggregate supply from AS, to AS, shown in the diagram below?An increase in production costsO An increase in minimum wageO An improvement in technologyO A reduction in government expenditureQuestion 6A widget is a normal good that is used in the tech industry. Which of the following will cause a RIGHTWARD shift in the demand curve for widgets?O Price of steel used to produce widgets increases due to the U.S. government placing tariffs on imports from ChinaThe government raises taxes on firms that manufacture widgetsO An increase in the price of dingbats, which are substitutes for widgetsASO A recession that causes incomes to decreaseQuestion 7Which of the following actions by the Fed would cause interest rates to fall?O Raising the discount rateO Raising the reserve requirementO Purchasing bonds from a commercial bankO None of the aboveQuestion 8As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should○ Ignore the $4 trillion because exports have already been included in the $ 24 trillionAdd $4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the USO Subtract $4 trillion from $24 trillion because imports are not part of US domestic outputO None of the above

Aggregate supply, is the total supply of goods and services produced inside an economy at a given in…

Question 5 Which of the statements below would NOT cause a shift in aggregate supply from AS, to AS, shown in the diagram below? P M AST Question 6 Real national O An increase in production costs O An increase in minimum wage O An improvement in technology O A reduction in government expenditure

Question 5 Which of the statements below would NOT cause a shift in aggregate supply from AS, to AS, shown in the diagram below? P M AST Question 6 Real national O An increase in production costs O An increase in minimum wage O An improvement in technology O A reduction in government expenditure

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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