QUESTION 9The graph below reflects a significant increase in world oil prices. What will the impact on aggregate supply most likely lead to?PriceLevelP₂P₁Y2 YiAS' ASADReal NationalIncomea. an increase in economic growthb. an increase in input pricesc. a decrease in the natural unemployment rated. less inflationary pressures

QUESTION 9 The graph below reflects a significant increase in world oil prices. What will the impact on aggregate supply most likely lead to? AS' AS Price Level P₂ P₁ Y2 Y. AD Real National Income a. an increase in economic growth O b. an increase in input prices O c. a decrease in the natural unemployment rate O d.less inflationary pressures

QUESTION 9 The graph below reflects a significant increase in world oil prices. What will the impact on aggregate supply most likely lead to? AS' AS Price Level P₂ P₁ Y2 Y. AD Real National Income a. an increase in economic growth O b. an increase in input prices O c. a decrease in the natural unemployment rate O d.less inflationary pressures

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The economy is in long run equilibrium. Congress’s passage of new laws significantly increasing the regulation of business. It is assumed that everything else stays constant. What do we expect in aggregate demand, short run aggregate supply aggregate supply in short run? And what happens in long run, and long run equilibrium price level and output? Explicitly state what happens to equilibrium price level and output in both short run and long run and how economy corrects from short run to long run.
Consider the following graph. Suppose the economy is currently at point A. Suppose there is a temporary decrease in the prices of raw materials. (Raw materials are used for production.) The economy will go to point, in short run, and then point in long run. Price level O C; B OB;A OB; C O CA ODA Question 2 LRAS - O vertical straight; increase by 10 percent O upward sloping: decrease by 10 percent O vertical straight; remain unchanged O downward sloping: increase by 10 percent Odownward sloping: decrease by 10 percent SRAS₁ SRAS AD Real GDP (Y) 4 LRAS is a(n) line. If the price level drops by 10 percent, then all else being equal, the long- run quantity of aggregate supply will
Question 6 O Figure 13-3 shows the relationship between real GDP and the price level in an economy. In the figure, Figure 13-3 Price Level O a. curve C O b. curve B O c. curve E O d. curve A O e. curve D A D Real GDP نا B C E Moving to the next question prevents changes to this answer. represents long-run aggregate supply?
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The aggregate supply (AS) function shows that as price levels rise, firms will supply less output because prices are higher. O True O False
Which is NOT neutral in the long run? O output O aggregate demand O money real interest rates
This multiple choice question from MACROECONOMICS course. just write for me the final answer.
Price Level O B Price Level Quantity of Output Quantity of Output Refer to the Figure 14-1. In the short run, what would result from a favourable shift in aggregate supply? O a. It would move the economy from A to B. O b. It would move the economy from B to C. Oc. It would move the economy from C to D. O d. It would move the economy from D to A.
QUESTION 15 The graph below refers to a significant increase in individual income taxes, taking them to their highest level in 50 years. Which of the following is likely to result? Price Level P₁ P₂ Y₂ Y1 AD AS AD Real National Income O a. Increase in unemployment O b. Increase in inflationary pressure O c. Rising input prices O d. An increase in the natural rate of unemployment
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