Homework Answers
Answer to the above-mentioned question is option "b" that is actual output is higher than the full-employment level.
- An aggregate supply curve (AS curve ) present the amount of the real GDP which is supplied in the different level of cost by the economy.
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The upward-sloping AS-curve will shift eventually to the left if O labor productivity increases O actual...
Given a downward-sloping aggregate demand (AD) curve and an upward-sloping short-run aggregate supply curve (SRAS), equilibrium...
Given a downward-sloping aggregate demand (AD) curve and an upward-sloping short-run aggregate supply curve (SRAS), equilibrium occurs where the two intersect. The value on the vertical axis is the equilibrium price level and the value on the horizontal axis is the equilibrium value of real GDP or output. What happens to the economy when AD shifts? It is useful to sketch a graph and show the shift. Suppose, for example, interest rates fall or wealth increases due to a stock...
in a market with an upward sloping supply curve and a downward sloping demand curve, when...
in a market with an upward sloping supply curve and a downward sloping demand curve, when there is an excess supply, a. b. c. The actual price must be higher that the equilibrium price. The actual price must be lower that the equilibrium price. The quantity demanded is higher than the equilibrium quantity.
1) 2) A) A horizontal straight line B) An upward–sloping curve that increases at a constant...
1)
2)
A) A horizontal straight line
B) An upward–sloping curve that increases at a constant rate
C) An upward–sloping curve that increases at an increasing
rate
D) An upward–sloping curve that increases at a decreasing
rate
3)
A) 0
B) 300
C) 150
D) 75
4)Forgone interest payments when the money is
invested in one's business are an __________ of capital.
Use letters in alphabetical order to select options
A) Opportunity cost
B) Accounting cost
C) Accepted cost.
D)...
The curve in the figure at right will shift to the right when O A. population...
The curve in the figure at right will shift to the right when O A. population falls. O B. the price level falls. O C. labor productivity increases. OD. the proportion of the population that is elderly increases. Price Level Real GDP per Year Click to select your answer.
The demand curve for a perfectly competitive firm options: is upward sloping. is perfectly horizontal. is...
The demand curve for a perfectly competitive firm options: is upward sloping. is perfectly horizontal. is perfectly vertical. maybe downward or upward sloping, depending upon the type of product offered for sale. In the short run, the best policy for a perfectly competitive firm is to Question 17 options: shut down its operation if the price ever falls below average total cost. produce and sell its product as long as price is greater than average variable cost. shut down its...
The Keynesian zone of the aggregate supply curve is_._while the neoclassical portion is_.... O upward-sloping, downward-sloping...
The Keynesian zone of the aggregate supply curve is_._while the neoclassical portion is_.... O upward-sloping, downward-sloping horizontal; vertical O vertical; flat How does the intermediate zone of the AD-AS curve follow Say's law when AD shifts to the right? O SRAS creates more demand by decreasing prices and output level. SRAS moves closer to potential GDP and increases price level. O SRAS is flatter and creates more supply by decreasing prices and output level Which of the following statements about...
Which of the following events will shift the labor supply curve to the left? (check all...
Which of the following events will shift the labor supply curve to the left? (check all that apply) The economy falls into a recession. Unemployment benefits rise. Wages begin to rise. Labor productivity falls.
5&6 5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift...
5&6
5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
The money demand curve is: O Upward sloping because the opportunity cost of holding money rises...
The money demand curve is: O Upward sloping because the opportunity cost of holding money rises with the interest rate. O Downward sloping because the opportunity cost of holding money is inversely related to the interest rate. Downward sloping because the opportunity cost of holding money rises as the interest rate falls. O Downward sloping because the opportunity cost of holding money rises as the interest rate rises.
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase...
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase in the Marginal Propensity to Consume An increase in the price of oil An increase in the amount of human capital A decrease in the actual price level Question 4 Suppose the economy is in its long run equilibrium. If there is a decrease in consumption, what happens in the short run? Price level rises and output rises...
in a market with an upward sloping supply curve and a downward sloping demand curve, when there is an excess supply, a. b. c. The actual price must be higher that the equilibrium price. The actual price must be lower that the equilibrium price. The quantity demanded is higher than the equilibrium quantity.
1)
2)
A) A horizontal straight line
B) An upward–sloping curve that increases at a constant rate
C) An upward–sloping curve that increases at an increasing
rate
D) An upward–sloping curve that increases at a decreasing
rate
3)
A) 0
B) 300
C) 150
D) 75
4)Forgone interest payments when the money is
invested in one's business are an __________ of capital.
Use letters in alphabetical order to select options
A) Opportunity cost
B) Accounting cost
C) Accepted cost.
D)...
The curve in the figure at right will shift to the right when O A. population falls. O B. the price level falls. O C. labor productivity increases. OD. the proportion of the population that is elderly increases. Price Level Real GDP per Year Click to select your answer.
The Keynesian zone of the aggregate supply curve is_._while the neoclassical portion is_.... O upward-sloping, downward-sloping horizontal; vertical O vertical; flat How does the intermediate zone of the AD-AS curve follow Say's law when AD shifts to the right? O SRAS creates more demand by decreasing prices and output level. SRAS moves closer to potential GDP and increases price level. O SRAS is flatter and creates more supply by decreasing prices and output level Which of the following statements about...
5&6
5. Other things equal, if labor productivity improves, the: A. aggregate demand curve would shift to the right. B. aggregate supply curve would shift to the left. C. aggregate supply curve would shift to the right. D. aggregate demand curve would shift to the left. Please answer question 6 by referring to the following Aggregate Supply curve. Price level AP Aggregate Supply "Flat" range FOREVE Real GDP 6. The flat portion of the Aggregate Supply curve is characterized by...
The money demand curve is: O Upward sloping because the opportunity cost of holding money rises with the interest rate. O Downward sloping because the opportunity cost of holding money is inversely related to the interest rate. Downward sloping because the opportunity cost of holding money rises as the interest rate falls. O Downward sloping because the opportunity cost of holding money rises as the interest rate rises.
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase in the Marginal Propensity to Consume An increase in the price of oil An increase in the amount of human capital A decrease in the actual price level Question 4 Suppose the economy is in its long run equilibrium. If there is a decrease in consumption, what happens in the short run? Price level rises and output rises...
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