Principles of Economics, 7th Edition (MindTap Course List)
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 33, Problem 3QCMC
To determine

The impact of change in expected price level.

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A change in the expected price level shifts a. the aggregate demand curve. b. the short-run aggregate supply curve, but not the long-run aggregate­ supply curve. c. the long-run aggregate supply curve, but not the short-run aggregate­ supply curve. d. both the short-run and the long-run aggregate supply curves.
When production costs rise, in the short run: When production costs rise, in the short run:       A.  the aggregate-supply curve shifts down to the right     B.  the aggregate-demand curve shifts down to the left     C.  the aggregate-demand curve shifts up to the right     D.  the aggregate-supply curve shifts up to the left     E.  both the aggregate-demand curve and the aggregate-supply curve shift to the left
Increases in the quality of inputs that do not affect the quantity of those inputs, increase A. short - run aggregate supply but not long - run aggregate supply. B. aggregate quantity supplied. C. long - run aggregate supply but not short - run aggregate supply D. both long - run aggregate supply and aggregate quantity supplied. E. both long - run aggregate supply and short - run aggregate supply.
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