Answered: The aggregate supply shifts to the…

The aggregate supply shifts to the right if: Group of answer choices nominal wages increase. land rents decreases. supplies of resources decrease. private investment increases.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter10: Aggregate Demand And Supply

Section: Chapter Questions

Problem 1SQ

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Concept explainers

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.

Question

The aggregate supply shifts to the right if:

Group of answer choices

nominal wages increase.

land rents decreases.

supplies of resources decrease.

private investment increases.

Definition Definition Total supply of goods and services in an economy at a certain price level in a specific time period.

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An increase in the price level causes the aggregate supply curve to shift to another supply schedule. True or False
If aggregate supply is vertical, then which of the following statements must be true? Aggregate demand does not affect the quantity of output. Inflation creates greater social benefits. Inflation will accompany any rise in output. Aggregate demand does not cause inflationary changes in price level.
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