Use the AD/AS model below to answer the following questions. In each case, assume the economy starts in long- and short-run equilibrium. Price Level (base = 100) 100.0 The Macroeconomy in long- and short-run equilibrium LRAS Real GDP AD₁ SRAS₁ a. Suppose there is a decrease in consumer confidence. Instuctions: Drag the appropriate line in the correct direction to show the short-run effect on the AD/AS model. In the short run, this will (Click to select) b. In the long-run, if the government takes no action to help the economy, (Click to select) (Click to select and output (Click to select V c. Suppose, instead, the government decides to take action to help the economy, using monetary policy. You can recommend (Click to select) This policy will (Click to select) (Click to select) Rectangula and (Click to select) The price level

Use the AD/AS model below to answer the following questions. In each case, assume the economy starts in long- and short-run equilibrium. Price Level (base = 100) 100.0 The Macroeconomy in long- and short-run equilibrium LRAS Real GDP AD₁ SRAS₁ a. Suppose there is a decrease in consumer confidence. Instuctions: Drag the appropriate line in the correct direction to show the short-run effect on the AD/AS model. In the short run, this will (Click to select) b. In the long-run, if the government takes no action to help the economy, (Click to select) (Click to select and output (Click to select V c. Suppose, instead, the government decides to take action to help the economy, using monetary policy. You can recommend (Click to select) This policy will (Click to select) (Click to select) Rectangula and (Click to select) The price level

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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