Read the statement below carefully, and decide whether it is true or false. And then EXPLAIN your answer (whether “true “ or “false”).
If input prices increase, the supply curve for cheese will shift to the right.
Statement - If input prices increase, the supply curve for cheese will shift to the right.
Answer - False
Explanation - With an increase in the input price, the cost of production for cheese goes up as it is a dependent variable. As per the supply demand curve, as the cost of production which then in effect is the cost of supply as well, the supply curve shifts to the left as the quantity supplied reduces.
Read the statement below carefully, and decide whether it is true or false. And then EXPLAIN...
Read the statement below carefully, and decide whether it is true or false. And then EXPLAIN your answer (whether “true “ or “false”). The Keynesian range of the aggregate supply curve applies when the economy is at or near full employment.
Read the statement below carefully, and decide whether it is true or false. And then EXPLAIN your answer (whether “true “ or “false”). The aggregate supply curve is vertical at the level of real GDP that corresponds to the natural rate of unemployment.
Read the statement below carefully, and decide whether it is true or false. And then EXPLAIN your answer (whether "true" or "false"). According to the circular flow model of the market system, when resource-owners’ money income is rising, then the costs to business firms must be falling.
Briefly explain and illustrate whether the following statement is true or false: If, over time, the demand curve for a product shifts to the right by more than the supply curve does, the equilibrium price will rise and the equilibrium quantity will increase.
Briefly explain with a graph whether given statement is true or false. “An adverse supply shock causes the short-run aggregate supply curve to shift left, increasing the price level.”
1. (15 points) Review Carefully read each statement below and identify it as True or False and, for each answer, explain your reasoning briefly in 1-2 sentences. 1. A 100KHz tone (i.e., sinusoid) is input to an LTI system. The frequency spectrum of the output signal may include components at integer multiples of 100KHz. True or False? Why? 2. The phase of the Fourier transform of a real-valued signal with odd symmetry will always be +90 deg. True or False?...
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