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D Question 5 10 pts 29. Complete the following table showing which curve shifts, which way it shi...
6. Which set of changes is definitely predicted to lower Real GDP in the short run?...
6. Which set of changes is definitely predicted to lower Real GDP in the short run? a. The money supply falls and labor productivity rises. b. The U.S. dollar appreciates and wage rates fall. c. The U.S. dollar depreciates and the government passes a law making it easier for entrepreneurs to make a profit. d. Foreign real national income falls and the economy experiences an adverse supply shock. 7. Which set of changes will definitely shift the aggregate demand (AD)...
Question 43 5 pts If the Money Supply (M) is $10 billion, real GDP (Q) is...
Question 43 5 pts If the Money Supply (M) is $10 billion, real GDP (Q) is $20 billion, and the Price Level (P) is 2.0, then the velocity of money (V) is: 2. 40. 20. 4. --------------------------- Question 44 5 pts Which of the following does NOT explain the downward slope of the aggregate demand curve? The real balance (wealth) effect The multiplier effect The international trade effect The interest rate effect Question 45 5 pts An increase in household...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each change listed in the table below will cause an increase, decreased or no change in Aggregate Supply (AS). Always start with SEASO. 2. IN column 1, list which component of AS is affected: input prices or productivity 3. IN column 2, draw an up arrow if the change will cause an increase in AS, a down arrow if it will cause a decrease in...
Question 1: According to Milton Friedman, the reason there are two Phillips curves is because a....
Question 1: According to Milton Friedman, the reason there are two Phillips curves is because a. prices are inflexible. b. the expected inflation rate does not instantaneously adjust to changes in the actual inflation rate. c. the expected inflation rate is equal to 1 minus the actual inflation rate. d. the expected inflation rate adjusts to changes in the actual inflation rate. Question 2: Milton Friedman argued that there a, are two Phillips curves, a short-run one and a long-run...
QUESTION 6 The aggregate demand curve would shift to the right as a result of a...
QUESTION 6 The aggregate demand curve would shift to the right as a result of a drop in the foreign exchange value of the dollar. a decrease in the amount of money in circulation. a drop in the price level. tax increases. QUESTION 16 According to Keynesian economics using the modern short-run aggregate supply curve, if there are unutilized resources in the economy and the aggregate demand decreases real GDP will fall and price level will fall. real GDP will...
Question 21 1 pts Use the following table which shows the aggregate demand and aggregate supply...
Question 21 1 pts Use the following table which shows the aggregate demand and aggregate supply schedule for a hypothetical economy to answer the next question. Real Domestic Output Demanded Price Level Real Domestic Output Supplied (in billions) (index value) (in billions) $3,000 350 $9,000 4,000 300 8,000 5,000 250 7,000 6,000 200 6,000 7,000 150 5,000 8,000 100 4,000 At the price level of 150, there will be a general surplus in the economy, and output supplied will decrease...
Please answer these macro multiple choices Which of the following is a defining characteristic of the...
Please answer these macro multiple choices
Which of the following is a defining characteristic of the AD/AS macro model in the short run? O A. firms cannot operate near their normal capacity O B. technology used in production is endogenous and variable O C. factor supplies are assumed to be constant OD. the level of potential output fluctuates with the price level O E. factor prices are assumed to be constant Assume the economy is initially in equilibrium with desired...
Consider the neoclassical zone in the graph above. Which of the following is a true statement...
Consider the neoclassical zone in the graph above. Which of the
following is a true statement about Say’s Law in the neoclassical
zone?
Shifts of the AD curve have little to no effect on supply
output because the LRAS at full output is creating demand.
Because equilibrium is close to or at potential GDP,
unemployment is affected by shifts in the AD curve.
Movement of the AD curve to the right or to the left shifts the
LRAS curve.
What...
econ LRAS, SRAS, SRAS SRAS Pnce Level Real GDP per Year 12) Refer to the graph...
econ
LRAS, SRAS, SRAS SRAS Pnce Level Real GDP per Year 12) Refer to the graph above. At point E3, the economy is experiencing A) recessionary gap B) stagflation C) inflationary gap D) full economy 13) From the point in question 12, what needs to be done using Aggregate Supply to get back to full employment? A) Decrease government spending B) Fed. to sell government bonds C) Produce more petroleum D) Decrease laborers 14) From the point in question 12,...
Which of the following will most likely cause a decrease in short-run aggregate supply (leftward shift) in the goods and services market?
35. Which of the following will most likely cause a decrease in short-run aggregate supply (leftward shift) in the goods and services market? a. An increase in the productivity of labor b. A reduction in the price of crude oil, a major imported commodity c. An increase in resource prices d. Favorable weather conditions in agricultural areas. 36. The vertical long-run aggregate supply curve reflects the fact that in the long run, an increase in the price level. a. Will not alter the economy's maximum...
6. Which set of changes is definitely predicted to lower Real GDP in the short run? a. The money supply falls and labor productivity rises. b. The U.S. dollar appreciates and wage rates fall. c. The U.S. dollar depreciates and the government passes a law making it easier for entrepreneurs to make a profit. d. Foreign real national income falls and the economy experiences an adverse supply shock. 7. Which set of changes will definitely shift the aggregate demand (AD)...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each change listed in the table below will cause an increase, decreased or no change in Aggregate Supply (AS). Always start with SEASO. 2. IN column 1, list which component of AS is affected: input prices or productivity 3. IN column 2, draw an up arrow if the change will cause an increase in AS, a down arrow if it will cause a decrease in...
QUESTION 6 The aggregate demand curve would shift to the right as a result of a drop in the foreign exchange value of the dollar. a decrease in the amount of money in circulation. a drop in the price level. tax increases. QUESTION 16 According to Keynesian economics using the modern short-run aggregate supply curve, if there are unutilized resources in the economy and the aggregate demand decreases real GDP will fall and price level will fall. real GDP will...
Question 21 1 pts Use the following table which shows the aggregate demand and aggregate supply schedule for a hypothetical economy to answer the next question. Real Domestic Output Demanded Price Level Real Domestic Output Supplied (in billions) (index value) (in billions) $3,000 350 $9,000 4,000 300 8,000 5,000 250 7,000 6,000 200 6,000 7,000 150 5,000 8,000 100 4,000 At the price level of 150, there will be a general surplus in the economy, and output supplied will decrease...
Please answer these macro multiple choices
Which of the following is a defining characteristic of the AD/AS macro model in the short run? O A. firms cannot operate near their normal capacity O B. technology used in production is endogenous and variable O C. factor supplies are assumed to be constant OD. the level of potential output fluctuates with the price level O E. factor prices are assumed to be constant Assume the economy is initially in equilibrium with desired...
Consider the neoclassical zone in the graph above. Which of the
following is a true statement about Say’s Law in the neoclassical
zone?
Shifts of the AD curve have little to no effect on supply
output because the LRAS at full output is creating demand.
Because equilibrium is close to or at potential GDP,
unemployment is affected by shifts in the AD curve.
Movement of the AD curve to the right or to the left shifts the
LRAS curve.
What...
econ
LRAS, SRAS, SRAS SRAS Pnce Level Real GDP per Year 12) Refer to the graph above. At point E3, the economy is experiencing A) recessionary gap B) stagflation C) inflationary gap D) full economy 13) From the point in question 12, what needs to be done using Aggregate Supply to get back to full employment? A) Decrease government spending B) Fed. to sell government bonds C) Produce more petroleum D) Decrease laborers 14) From the point in question 12,...
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