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Question 1 1 pts If an economist needs to use a model that collectively reflects the interconnections and the entire market s
During the winter of 2014/2015 oil prices dropped by a large percentage compared to the summer of 2014 By March 2015, what ch
If the economy is in a recessionary period, appropriate policies to pursue may include: an income tax cut that shifts the AD
_ potential, and on the far left of the On the far right side of the AS curve, the economy is producing __ curve, it is produ
In the long run, the most important factor that shifts the aggregate supply curve is inflation business confidence. technolog
How does an economist depict cyclical unemployment on an aggregate demand-aggregate supply (AD-AS) diagram? By depicting how
Tir Att Shifts in the aggregate supply curve can be caused by the foreign price effect. technological innovation the wealth e
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Answer #1

1. The AD AS model

Reason: This is because the entire market is to be studied overall on a macro level

2. There was a shift to the right in the aggregate supply curve

Reason: A right shift of AS curve leads to a fall in prices

3. An income tax cut that shifts the AD curve to the right

Reason: In case of recession, expansionary fiscal policies are adopted like reducing tax or increasing government spending to increase AD

4. Above, Below

Reason: As it shows the potential output produced by economy on AS curve

Note: First 4 questions are answered

Kindly ask rest of the questions in a separate post

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