Along an aggregate supply curve, if the level of output is less than the natural level...
- Along an aggregate supply curve, if the level of output is less than the natural level of output, then the price level is:
- greater than the expected price level.
- less than the expected price level.
- equal to the natural price level.
- stuck at the existing price level.
Homework Answers
B. Less than the expected price level
Along an aggregate supply curve, if the level of output is less than the natural level of output, then the price level is less than expected price level.
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Along an aggregate supply curve, if the level of output is less
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Question 65 1.33 pts "Considering only aggregate supply curve, when output is greater than the natural...
Question 65 1.33 pts "Considering only aggregate supply curve, when output is greater than the natural level:" OC) the unemployment rate is equal to the natural unemployment rate. OB) the unemployment rate is greater than the natural unemployment rate. O A) the price level is greater than the expected price level. OD) the price level will be lower next period than this period. E) Price doesn't change next period
1. Aggregate supply definitions The short-run aggregate supply curve shows: What happens to output in an...
1. Aggregate supply definitions The short-run aggregate supply curve shows: What happens to output in an economy when the government spends more money How firms respond to changes in interest rates Changes in output in an economy as the price level changes, holding all other determinants of real GDP constar The relationship between the price level and aggregate expenditure Which of the following are assumed to remain unchanged along a given short-run aggregate supply curve? Check all that The price...
The effects of a higher than expected price level are shown by a. shifting the short-run aggregate supply curve right. b...
The effects of a higher than expected price level are shown by a. shifting the short-run aggregate supply curve right. b. shifting the short-run aggregate supply curve left. c. moving to the right along a given aggregate supply curve. d. moving to the left along a given aggregate supply curve.
Why the aggregate supply curve slopes upward in the short run quantity of output that firms suppl...
Why the aggregate supply curve slopes upward in the short run quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy devi om the expected price level. Several theories explain how this might happen or example, the sticky-price theory asserts that the output prices of some goods and services adjust slowhy irms announce the prices for their products in advance, based on an expected price level of poods...
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
When the aggregate demand curve and the short-run aggregate supply curve intersect, a) the long-run aggregate...
When the aggregate demand curve and the short-run aggregate supply curve intersect, a) the long-run aggregate supply curve must also intersect at the same point. Ob) the economy must experience higher output than the natural level of output. o c) the economy must experience lower output than the natural level of output. o d) the economy is in short-run macroeconomic equilibrium. In a small economy in 2016, aggregate expenditure was $900 million while GDP that year was $750 million. Which...
3. Consider the following Aggregate supply: where yn is a natural level of output, and w...
3. Consider the following Aggregate supply: where yn is a natural level of output, and w is nominal wage rate. A. Suppose that the wage rate is flexible and adjust fully to any change in price level such that p-w.. Derive AS curve and explain. B. Suppose that wage rate is fixed at What does AS curve look like? C. Using AD curve derived in Question 1. D, calculate the equilibrium price and output level when wage is fully flexible....
level of aggregate output if the aggrega All else equal, a cost shock that shifts the aggregate supply curve to the lef...
level of aggregate output if the aggrega All else equal, a cost shock that shifts the aggregate supply curve to the left leads to a demand curve is downward sloping. price level and a A. higher; lower B. higher; higher C. lower; lower D. lower; higher When the AD curve is vertical and a cost shock shifts the AS curve to the left, there is no change in output Α. False B. True
Why the aggregate supply curve slopes upward in the short run
Why the aggregate supply curve slopes upward in the short run In the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. Several theories explain how this might happen. For example, the sticky-price theory asserts that the output prices of some goods and services adjust slowly to changes in the price level. Suppose firms announce the prices for their products...
The following graph shows the short-run aggregate supply curve (AS), the aggregate demand curve (AD), and the long-run aggregate supply curve (LRAS) for a hypothetical economy
9. Economic fluctuations II The following graph shows the short-run aggregate supply curve (AS), the aggregate demand curve (AD), and the long-run aggregate supply curve (LRAS) for a hypothetical economy. Initially, the expected price level is equal to the actual price level, and the economy is in long-run equilibrium at its natural level of output, $120 billion. Suppose a bout of severe weather drives up agricultural costs, increases the costs of transporting goods and services, and increases the costs of producing goods...
Question 65 1.33 pts "Considering only aggregate supply curve, when output is greater than the natural level:" OC) the unemployment rate is equal to the natural unemployment rate. OB) the unemployment rate is greater than the natural unemployment rate. O A) the price level is greater than the expected price level. OD) the price level will be lower next period than this period. E) Price doesn't change next period
1. Aggregate supply definitions The short-run aggregate supply curve shows: What happens to output in an economy when the government spends more money How firms respond to changes in interest rates Changes in output in an economy as the price level changes, holding all other determinants of real GDP constar The relationship between the price level and aggregate expenditure Which of the following are assumed to remain unchanged along a given short-run aggregate supply curve? Check all that The price...
Why the aggregate supply curve slopes upward in the short run quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy devi om the expected price level. Several theories explain how this might happen or example, the sticky-price theory asserts that the output prices of some goods and services adjust slowhy irms announce the prices for their products in advance, based on an expected price level of poods...
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
When the aggregate demand curve and the short-run aggregate supply curve intersect, a) the long-run aggregate supply curve must also intersect at the same point. Ob) the economy must experience higher output than the natural level of output. o c) the economy must experience lower output than the natural level of output. o d) the economy is in short-run macroeconomic equilibrium. In a small economy in 2016, aggregate expenditure was $900 million while GDP that year was $750 million. Which...
3. Consider the following Aggregate supply: where yn is a natural level of output, and w is nominal wage rate. A. Suppose that the wage rate is flexible and adjust fully to any change in price level such that p-w.. Derive AS curve and explain. B. Suppose that wage rate is fixed at What does AS curve look like? C. Using AD curve derived in Question 1. D, calculate the equilibrium price and output level when wage is fully flexible....
level of aggregate output if the aggrega All else equal, a cost shock that shifts the aggregate supply curve to the left leads to a demand curve is downward sloping. price level and a A. higher; lower B. higher; higher C. lower; lower D. lower; higher When the AD curve is vertical and a cost shock shifts the AS curve to the left, there is no change in output Α. False B. True
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