st of oil rises sharply AS to the left Price level increases Output decreases Recessionary 1. The Government increases spending sharply on infrastructure 2. American goods increase in demand from foreign buyers 3. Immigration into the country increases dramatically 4. Interest rates decrease 5. A technological breakthrough makes companies more productive 6. The government increases regulations on greenhouse gas emissions 7. The government increases subsidies in all sectors of the economy 8. With renewed confidence consumers increase spending for Christmas

st of oil rises sharply AS to the left Price level increases Output decreases Recessionary 1. The Government increases spending sharply on infrastructure 2. American goods increase in demand from foreign buyers 3. Immigration into the country increases dramatically 4. Interest rates decrease 5. A technological breakthrough makes companies more productive 6. The government increases regulations on greenhouse gas emissions 7. The government increases subsidies in all sectors of the economy 8. With renewed confidence consumers increase spending for Christmas

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Situation	Which curve shifts? Which direction?	Price Level and Output Increase or Decrease	Recessionary or Inflationary (Will the situation cause a recession or inflation?)
The cost of oil rises sharply	AS to the left	Price level increases Output decreases	Recessionary
1. The Government increases spending sharply on infrastructure
2. American goods increase in demand from foreign buyers
3. Immigration into the country increases dramatically
4. Interest rates decrease
5. A technological breakthrough makes companies more productive
6. The government increases regulations on greenhouse gas emissions
7. The government increases subsidies in all sectors of the economy
8. With renewed confidence consumers increase spending for Christmas