Answer plzz... Ruritania's economy is depicted below, with the long run aggregate supply curve (LRAS), three short runaggregate supply curves (AS1, AS2, and AS3) and three aggregate demand curves (AD1,AD2, and AD3).Right now, Ruritania is at point A, with real GDP of 7 trillion krone and a price level of 100. Answer thequestions based on the information in the graph.Price Level2001801601401201008060402000123LRASAS3AS24 5 6 7 8 9AD2AS1AD3AD110 11 12 13Real GDP (trillion krone)A shift to which curvewould result in a shortrun equilibrium of 9trillion krone and a lowerprice level?Which of thefollowing could causethe shift in the firstquestion?AS1AS3AD1AD3A permanent fall inenergy prices.Increased consumerconfidence.Increased governmentspending.Increased consumeroptimism.

The AD-AS framework is a macroeconomic model that describes the relationship between the aggregate…

Ruritania's economy is depicted below, with the long run aggregate supply curve (LRAS), three short run aggregate supply curves (AS1, AS2, and AS3) and three aggregate demand curves (AD1,AD2, and AD3). Right now, Ruritania is at point A, with real GDP of 7 trillion krone and a price level of 100. Answer the questions based on the information in the graph. Price Level 200 180 160 140 120 100 80 60 40 20 0 0 1 LRAS AS3 AS2 AD2 AS1 AD3 AD1 5 6 7 8 9 10 11 12 13 Real GDP (trillion krone) A shift to which curve would result in a short run equilibrium of 9 trillion krone and a lower price level? Which of the following could cause the shift in the first question? AS1 AS3 AD1 AD3 permanent fall in energy prices. Increased consumer confidence. Increased government spending. Increased consumer optimism.

Ruritania's economy is depicted below, with the long run aggregate supply curve (LRAS), three short run aggregate supply curves (AS1, AS2, and AS3) and three aggregate demand curves (AD1,AD2, and AD3). Right now, Ruritania is at point A, with real GDP of 7 trillion krone and a price level of 100. Answer the questions based on the information in the graph. Price Level 200 180 160 140 120 100 80 60 40 20 0 0 1 LRAS AS3 AS2 AD2 AS1 AD3 AD1 5 6 7 8 9 10 11 12 13 Real GDP (trillion krone) A shift to which curve would result in a short run equilibrium of 9 trillion krone and a lower price level? Which of the following could cause the shift in the first question? AS1 AS3 AD1 AD3 permanent fall in energy prices. Increased consumer confidence. Increased government spending. Increased consumer optimism.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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MOER The table below shows how supply and demand Price ($/gal) Demand (million of gal.) 1 1.2 790 700 1.4 640 1.6 580 1.95 497 2.2 450 2.4 430 2.6 420 2.8 390 3 360 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): -21.935p² + 207.365p+339.085 Round your answer to 3 decimal places S(p) ● D(p): = 1.53 • Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links to an article to compute trend-lines in Excel): 85.561p² - 543.789p + 1236.729 Round your answer to 3 decimal places Video Solve | Sn... of gasoliine vary depending on the price: Supply (million of gal.) 511 550 600 641 660 680 700 720 735 786 605 - • Use the trendlines to find the price…
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