23. Which of the following is likely to occur in production of smart phones and computers if a technological breakthroug...
23. Which of the following is likely to occur in production of smart phones and computers if a technological breakthrough significantly reduces the cost of computer chips, ceteris paribus?
- Aggregate supply will increase (shift right) and prices will decrease.
- Aggregate supply will decrease (shift left) and prices will increase.
- Aggregate demand will increase (shift right) and prices will increase.
- Aggregate demand will decrease (shift left) and prices will remain stable at the same level.
Homework Answers
This will make the production of the goods cheaper and that will shift the aggregate supply curve to the right and the new equilibrium will be at a lower price and higher output. the answer is "A".
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23. Which of the following is likely to occur in production of smart phones and computers if a technological breakthroug...
a technological advance in the application of computer for each following events, - indiacte which curve(s)...
a technological advance in the application of computer
for
each following events,
- indiacte which curve(s) of the thai economy--the aggregate
demand(AD),short-run aggregate supply(SRAS),long-rub aggragte
supply(LRAS),or any combination of the three-- will initally
shift;
-specify the direction of the shift of the curve(s)moving to
the right or to the left.
(i) A technological advance in the application of computers. i) A drought in Thailand's North and Northeast.
Which of the following will most likely occur as the result of an unanticipated increase in...
Which of the following will most likely occur as the result of an unanticipated increase in aggregate demand? a. an increase in output and a move to a higher price level b. an increase in prices and a long-run increase in output c. an increase in long-run aggregate supply (LRAS shifts to the right) d. a decrease in the natural rate of unemployment
If the aggregate demand in the economy depicted below is AD2, ceteris paribus, what is likely...
If the aggregate demand in the economy depicted below is AD2, ceteris paribus, what is likely to happen in this economy in the long run (without any government intervention)? Price level LRAS SRAS P3 AD3 AD1 2 AD2 2 Y Y Real GDP O The SRAS curve will shift to the right. Nominal wages will decrease. Nominal wages will increase. Both the nominal wages will decrease and the SRAS curve will shift to the right. O The SRAS curve will...
Suppose a country, whose production and consumption of cell phones is large relative to the world...
Suppose a country, whose production and consumption of cell phones is large relative to the world market, has just entered the global market. If the country is a net-importer of cell phones, we would expect the world: Multiple Choice demand curve to shift more to the left than the world supply curve as a result. supply curve to shift more to the left than the world demand curve as a result. supply curve to shift more to the right than...
Ceteris Paribus, an increase in the price of a complement will cause which of the following...
Ceteris Paribus, an increase in the price of a complement will cause which of the following to occur: a. our demand curve to shift to the left and a higher equilibrium price b. our demand curve to shift to the right and a lower equilibrium price c. our demand curve to shift to the left and a lower equilibrium price d. our demand curve to shift to the right and a higher equilibrium price e. our quantity demand at the...
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...
QUESTION 23 Ceteris paribus , which of the following would cause the aggregate demand curve to...
QUESTION 23 Ceteris paribus , which of the following would cause the aggregate demand curve to shift to the right? a reduced stock market wealth b. a reduction in transfer payments c. a rise in consumer confidence d. higher personal taxes QUESTION 24 Ceteris paribus , which of the following would cause the aggregate demand curve to shift to the right? a reduced stock market wealth b. a reduction in transfer payments c. a rise in consumer confidence d. higher...
1. If pizza and burritos are substitutes in consumption and independent in production and if the...
1. If pizza and burritos are substitutes in consumption and independent in production and if the price of pizza decreases, then, ceteris paribus, in the burrito market the demand for burritos will increase and both the equilibrium price of burritos, Pburritos*, and the equilibrium quantity of burrito, Qburritos*, will increase. quantity demanded of burritos will decrease and both Pburritos* and Qburritos* will decrease. supply of burritos will decrease, Pburritos* will increase, and Qburritos* will decrease. demand for burritos will decrease,...
3. Which of the following would decrease the quantity supplied of smartphones, ceteris paribus? An increase...
3. Which of the following would decrease the quantity supplied of smartphones, ceteris paribus? An increase in the price of HDTVs, assuming that smartphones and HDTVs are substitutes in production. A decrease in the number of smartphone producers. A decrease in consumer income, assuming that smartphones are normal goods. An increase in the wages of smartphone production workers. All of the changes listed for this question will decrease the quantity supplied of smartphones. 4. According to the law of supply,...
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....
a technological advance in the application of computer
for
each following events,
- indiacte which curve(s) of the thai economy--the aggregate
demand(AD),short-run aggregate supply(SRAS),long-rub aggragte
supply(LRAS),or any combination of the three-- will initally
shift;
-specify the direction of the shift of the curve(s)moving to
the right or to the left.
(i) A technological advance in the application of computers. i) A drought in Thailand's North and Northeast.
If the aggregate demand in the economy depicted below is AD2, ceteris paribus, what is likely to happen in this economy in the long run (without any government intervention)? Price level LRAS SRAS P3 AD3 AD1 2 AD2 2 Y Y Real GDP O The SRAS curve will shift to the right. Nominal wages will decrease. Nominal wages will increase. Both the nominal wages will decrease and the SRAS curve will shift to the right. O The SRAS curve will...
QUESTION 23 Ceteris paribus , which of the following would cause the aggregate demand curve to shift to the right? a reduced stock market wealth b. a reduction in transfer payments c. a rise in consumer confidence d. higher personal taxes QUESTION 24 Ceteris paribus , which of the following would cause the aggregate demand curve to shift to the right? a reduced stock market wealth b. a reduction in transfer payments c. a rise in consumer confidence d. higher...
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