A supply shock causes a shift in: a. long-run aggregate supply. b. aggregate demand. c. short-run and long-run aggregat...
A supply shock causes a shift in:
- a. long-run aggregate supply.
- b. aggregate demand.
- c. short-run and long-run aggregate supply.
- d. short-run aggregate supply.
- e. aggregate demand and short-run aggregate supply.
Consider the exhibit below for the following questions.
Figure 20-1
Refer to Figure 20-1. The economy would be moving to long-run
equilibrium if it started at
- a. A and moved to B.
- b. C and moved to B.
- c. D and moved to C.
- d. None of the above is correct.
At ___________ tax rates, ___________ in those tax rates lead to ___________ in total tax revenue.
- a. high; increases; increases
- b. high; decreases; decreases
- c. low; decreases; increases
- d. low; decreases; decreases
- e. low; increases; decreases
- f. low; increases; increases
- g. both f and d
Homework Answers
- d. Short run aggregate supply
- d. D and moved to C
In the long run equilibrium occurs at the vertical line.
- g. Both f and d
Add Answer to:
A supply shock causes a shift in: a. long-run aggregate supply. b. aggregate demand. c. short-run and long-run aggregat...
An adverse supply shock would shift: a. only the long-run aggregate supply curve inward. b....
An adverse supply shock would shift: a. only the long-run aggregate supply curve inward. b. only the short-run aggregate supply curve inward. c. both the long-run and the short-run aggregate supply curves inward. d. only the short-run aggregate supply curve outward. e. only the long-run aggregate supply curve outward.
Which of the following will increase both the short-run and long-run aggregate supply curves? A. There...
Which of the following will increase both the short-run and long-run aggregate supply curves? A. There are fewer firms involved in perfectly competitive and monopolistically competitive market structures as the economy features more oligopolies than before. B. The wage rate temporarily decreases throughout the economy. C. Younger workers in the labour force receive better and more training than their predecessors. D. The supply of key raw materials, such as petroleum and bauxite, is reduced. Which of the following is true...
15. The short-run aggregate supply curve will shift to the: right if commodity prices i...
15.
The short-run aggregate supply curve will shift to the:
right if commodity prices increase.
left if productivity increases.
left if nominal wages increase.
right if government spending increases.
35.
An expansionary fiscal policy either _____ government spending
or _____ taxes.
decreases; increases
decreases; decreases
increases; decreases
increases; increases
12.
The short run in macroeconomic analysis is a period:
in which many production costs can be taken as fixed.
in which interest rates are fixed.
of two months, and the...
What causes the short - run aggregate supply curve or SRAS to shift to the left?...
What causes the short - run aggregate supply curve or SRAS to shift to the left? 0 A. an increase in inflation expectations B. a decrease in interest rates O C. a technological advance D. an increase in the price level
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...
The table gives the aggregate demand schedule, the short run aggregate supply schedule, and the long run aggregat...
The table gives the aggregate demand schedule, the short run aggregate supply schedule, and the long run aggregate supply schedule for an economy What is the quantity of real GDP at the short-run macroeconomic equilibrium? Price level (GDP deflator) The quantity of real GDP at the short-run macroeconomic equilibrium is s billion 100 Real GDP Real GDP Real GDP supplied supplied demanded in short run in long run (billions of 2007 dollars) 200 500 350 500 500 500 400 650...
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....
Suppose government spending decreases. Beginning in a long-run equilibrium, what would be the long-run effect on...
Suppose government spending decreases. Beginning in a long-run equilibrium, what would be the long-run effect on the goods and services market? Group of answer choices A. GDP Deflator increases, Real GDP decreases B. GDP Deflator decreases, Real GDP decreases C. GDP Deflator decreases, no change in Real GDP D. GDP Deflator increases, no change in Real GDP An increase in the amount of technology will shift which curve(s)? Group of answer choices A. Aggregate demand and short-run aggregate supply B....
The graph below depicts the aggregate demand, Irrun aggregate supply, and short-run aggregate supply curves for...
The graph below depicts the aggregate demand, Irrun aggregate supply, and short-run aggregate supply curves for the United States at an initial long-run macroeconomic equilibrium Price level] (P) LRAS SRAS Real GDP Consider a situation in which two things happen simultaneously: there is a deterioration of institutions, and the federal government massively increases spending. Which of the graphs below illustrates the shifts in this model given this situation? Price level Price level (P) (P) URAS LRAS, LRAS SRAS SRAS SRAS...
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the...
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the maintain full employment changes in step with the price level to O A. money wage rate OB. quantity of money OC. real wage rate OD. interest rate supplied and the when the money wage rate, the prices of other resources and Short run aggregate supply is the relationship between the quantity of potential GDP remain constant O A real GDP...
15.
The short-run aggregate supply curve will shift to the:
right if commodity prices increase.
left if productivity increases.
left if nominal wages increase.
right if government spending increases.
35.
An expansionary fiscal policy either _____ government spending
or _____ taxes.
decreases; increases
decreases; decreases
increases; decreases
increases; increases
12.
The short run in macroeconomic analysis is a period:
in which many production costs can be taken as fixed.
in which interest rates are fixed.
of two months, and the...
What causes the short - run aggregate supply curve or SRAS to shift to the left? 0 A. an increase in inflation expectations B. a decrease in interest rates O C. a technological advance D. an increase in the price level
The table gives the aggregate demand schedule, the short run aggregate supply schedule, and the long run aggregate supply schedule for an economy What is the quantity of real GDP at the short-run macroeconomic equilibrium? Price level (GDP deflator) The quantity of real GDP at the short-run macroeconomic equilibrium is s billion 100 Real GDP Real GDP Real GDP supplied supplied demanded in short run in long run (billions of 2007 dollars) 200 500 350 500 500 500 400 650...
The graph below depicts the aggregate demand, Irrun aggregate supply, and short-run aggregate supply curves for the United States at an initial long-run macroeconomic equilibrium Price level] (P) LRAS SRAS Real GDP Consider a situation in which two things happen simultaneously: there is a deterioration of institutions, and the federal government massively increases spending. Which of the graphs below illustrates the shifts in this model given this situation? Price level Price level (P) (P) URAS LRAS, LRAS SRAS SRAS SRAS...
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the maintain full employment changes in step with the price level to O A. money wage rate OB. quantity of money OC. real wage rate OD. interest rate supplied and the when the money wage rate, the prices of other resources and Short run aggregate supply is the relationship between the quantity of potential GDP remain constant O A real GDP...
Most questions answered within 3 hours.
-
Describe how the file manager allocates a file to a single user.
List the steps that...
asked 3 minutes ago -
For the following reaction:
IBr(g) + 4F2(g) → IF5(g) +
BrF3(g)
Compound
ΔH°f (kJ mol-1)...
asked 4 minutes ago -
Assuming the simple probability of even A is given as P(A) and
the simple probability of...
asked 7 minutes ago -
2.- It is known that 20% of the students on campus are smokers.
If 8 students...
asked 7 minutes ago -
Provide a summary/reflection of what you gleaned of how law
enforcement is effect by Unconventional Weapons...
asked 28 minutes ago -
From the following heats of combustion,
CH3OH(l) + 3/2O2(g) → CO2(g) +
2H2O(l)
ΔHorxn = –726.4...
asked 22 minutes ago -
Floating Point Representation
Consider a computer that stores information using 10 bits words.
The first bit...
asked 51 minutes ago -
. The theoretical weight percent of carbon in (CH3)3N is:
A. 20.32% B. 81.95% C. 9.97%...
asked 44 minutes ago -
The rate of a certain reaction is given by the following rate
law:
rate = k[H2][I2]...
asked 38 minutes ago -
A 10,000 uF capacitor is in series with a 1 uH inductor. What is
Zeq of...
asked 43 minutes ago -
Draw the molecular orbital diagram for O2-
(oxygen molecule with a negative charge).
asked 1 hour ago -
Of all the different weapons discussed in this chapter that make
up CBRNE,
Which group do...
asked 57 minutes ago