Question 9 Long-term economic growth is illustrated in the AD/AS framework by a gradual shift of the aggregate supply curve to the left. True False Question 10 The neoclassical zone occurs at the right of the SRAS curve where it is fairly vertical, and so movements in AD will affect the price level, but have little impact on output. True False

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Question 9
Long-term economic growth is illustrated in the AD/AS framework by a gradual shift
of the aggregate supply curve to the left.
True
False
Question 10
The neoclassical zone occurs at the right of the SRAS curve where it is fairly vertical,
and so movements in AD will affect the price level, but have little impact on output.
True
False
Transcribed Image Text:Question 9 Long-term economic growth is illustrated in the AD/AS framework by a gradual shift of the aggregate supply curve to the left. True False Question 10 The neoclassical zone occurs at the right of the SRAS curve where it is fairly vertical, and so movements in AD will affect the price level, but have little impact on output. True False
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