Homework Answers
The short-run aggregate supply is upward sloping and it shows the positive relationship between price level and real GDP. So it can be said that the aggregate supply curve shows the various amounts of real output that businesses will produce at each price level.
Since the long-run aggregate supply curve is a vertical line and it is based on the assumptions that wages of labor and costs of inputs are affected by the change in the output price level.
Hence it can be said that the extended analysis of aggregate supply, the short-run aggregate supply curve is upward sloping and the long-run aggregate supply curve is vertical line.
Hence option first is the correct answer.
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In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0...
Sticky wages cause the: Multiple Choice long-run aggregate supply curve to slope upward. short-run aggregate supply...
Sticky wages cause the: Multiple Choice long-run aggregate supply curve to slope upward. short-run aggregate supply curve to slope downward. long-run aggregate supply curve to slope downward. short-run aggregate supply curve to slope upward.
Describe the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve. A. the...
Describe the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve. A. the SRAS curve is horizontal and the LRAS curve is upward sloping B. the SRAS curve is horizontal and the LRAS curve is vertical C. the SRAS curve is vertical and the LRAS curve is horizontal D. the SRAS curve is vertical and the LRAS curve is upward sloping Why is the short-run aggregate supply curve horizontal? A. because output is fixed in the short...
the short-run aggregate supply curve is most likely to shift down The short-run aggregate supply curve...
the short-run aggregate supply curve is most likely to shift
down
The short-run aggregate supply curve is most likely to shift down to the right) when actual output is: Multiple Choice not equal to potential output, regardless of whether it is above or below. greater than potential output equal to potential output. less than potential output
At points on the short-run aggregate supply curve, but to the right of the long-run aggregate...
At points on the short-run aggregate supply curve, but to the right of the long-run aggregate supply curve, resources are: A. over-utilized, making it more likely that the short-run aggregate supply curve will shift up (to the left) B. over-utilized, making it more likely that the short-run aggregate supply curve will shift down (to the right) ° C. under-utilized, making it more likely that the short-run aggregate supply curve will shift up (to the left) D. under-utilized, making it more...
The classical dichotomy and monetary neutrality are represented graphically by an upward-sloping short-run aggregate-curve. a vertical long-run aggregate-supply...
The classical dichotomy and monetary neutrality are represented graphically by an upward-sloping short-run aggregate-curve. a vertical long-run aggregate-supply curve. an upward-sloping long-run aggregate-supply curve. a downward-sloping aggregate-demand curve.
5. Explain the difference between the long-run aggregate supply curve and the short-run aggregate supply curve
5. Explain the difference between the long-run aggregate supply curve and the short-run aggregate supply curve
17- Both the long run and short run aggregate supply curve will shift when an event...
17- Both the long run and short run aggregate supply curve will shift when an event occurs which is expected to last only a short period of time. they are both upward sloping. a war occurs in the Middle East. the endowments of the factors of production changes 19- Cost-push inflation occurs when the aggregate supply curve shifts to the right, while aggregate demand remains stable. when the aggregate demand curve shifts to the left, while aggregate supply remains stable....
When the long-run aggregate supply curve shifts, the short-run aggregate supply curve may or may not...
When the long-run aggregate supply curve shifts, the short-run aggregate supply curve may or may not shift in the same direction.
Draw the Long Run Aggregate Supply Curve and Short Run Aggregate Supply Curve. Describe two theories...
Draw the Long Run Aggregate Supply Curve and Short Run Aggregate Supply Curve. Describe two theories that explain why those curves are different.
The short-run aggregate supply curve shows the Multiple Choice inverse relationship between the price level and...
The short-run aggregate supply curve shows the Multiple Choice inverse relationship between the price level and real GDP produced. direct relationship between the price level and real GDP purchased. direct relationship between the price level and real GDP produced. inverse relationship between the price level and real GDP purchased.
Sticky wages cause the: Multiple Choice long-run aggregate supply curve to slope upward. short-run aggregate supply curve to slope downward. long-run aggregate supply curve to slope downward. short-run aggregate supply curve to slope upward.
the short-run aggregate supply curve is most likely to shift
down
The short-run aggregate supply curve is most likely to shift down to the right) when actual output is: Multiple Choice not equal to potential output, regardless of whether it is above or below. greater than potential output equal to potential output. less than potential output
At points on the short-run aggregate supply curve, but to the right of the long-run aggregate supply curve, resources are: A. over-utilized, making it more likely that the short-run aggregate supply curve will shift up (to the left) B. over-utilized, making it more likely that the short-run aggregate supply curve will shift down (to the right) ° C. under-utilized, making it more likely that the short-run aggregate supply curve will shift up (to the left) D. under-utilized, making it more...
When the long-run aggregate supply curve shifts, the short-run aggregate supply curve may or may not shift in the same direction.
The short-run aggregate supply curve shows the Multiple Choice inverse relationship between the price level and real GDP produced. direct relationship between the price level and real GDP purchased. direct relationship between the price level and real GDP produced. inverse relationship between the price level and real GDP purchased.
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