Refer to the graph If Quis potential GDP and wages and prices are flexible, then the long-run aggregate supply curve will be Multiple Choice a vertical Ine et C O AS₁ O a vertical line at Q₁ AS2
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Price Level P₂ P3 0 B C AS₁ AS2 (D AD₂ Q₁ Qf 1 Real Domestic Output AD₁ Refer to the graph. If Qfis potential GDP and wages and prices are flexible, then the long-run
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- 37.6% R Give Up? O Hint ment Score: Resources Chec on 5 of 15 <. In 2013, Prussia's aggregate demand curve was determined by the equation M +0= 4%. A change in aggregate demand means that in 2014, Prussia's aggregate demand curve was determined by the equation M +6= 7%. Using this information, draw Prussia's old and new dynamic aggregate demand curves on the graph. Which of the factors could have resulted in the change in 14 aggregate demand seen between 2013 and 2014? 13 O an improvement in technology 12 11 an increase in imports 10 a decrease in oil prices 8. AD 2013 O higher consumer confidence 7. 5. -3 -2 -1 3. 6. 10 Real GDP growth rate F12 AD 2014 4. 6, 4. Inflation rateGiven the following aggregate aggragate supply šchedule.() Price level Real GDp Deman ded Real GDP Supplied Short-RuN 70 80 90 100 110 450 400 350 300 350 400 450 500 250 350 4 the potential RGDP iŷ 450 units of us¢o 4) Draw and Show the short-run economic equilibrium and evaluate the situation by comparing with the long (hAs)explain this sifuation. geyate suppy (LAS) run aggregeafe plain ttis situationnents: 2022-SU-ECO2023 x Question 2 - Chapter 5 Problems X + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mhede ter 5 Problems i eBook 2 In the figure below, S2, represents a 25 unit increase in quantity supplied at each price. Determine the new equilibrium price and quantity. Price ($) Ot jo 6 aded 110 100 88888889 80 70 60 50 40 30 20 10 Mc Graw Hill Type here to search 0 20 40 60 Quantity The new equilibrium price is $ S. 80 ကို အာသံ - 100 120 and new equilibrium quantity is O t units. GPA 2.75 Soved You skipped this question in th < Prev 2 of 5 acer Ne
- In the above figure; when the economy is in a longr run equabrium, the price level will be 90 . 110. 120, 100Real GDP Real GDPDemanded, Price Level Supplied,Billions (Price Index) Billions$100 300 $450200 250 400300 200 300400 150 200500 100 100 Use these sets of data to graph the aggregate demandand aggregate supply curves. What is the equilibriumprice level and the equilibrium level of real output inthis hypothetical economy? Is the equilibrium real output also necessarily the full-employment real output?Explain.b. Why will a price level of 150 not be an equilibriumprice level in this economy? Why not 250?c. Suppose that buyers desire to purchase $200 billion ofextra real output at each price level. Sketch in the newaggregate demand curve as AD1. What factors mightcause this change in aggregate demand? What is thenew equilibrium price level and level of real output?What are the reasons for freight cycles? Explain by giving examples.
- In 2013, Prussia's aggregate demand curve was determined by the equation M + 1-4% A change in aggregate demand means that in 2014, Prussia's aggregate demand curve was determined by the equation Using this information, draw Prussia's old and new dynamic aggregate demand curves on the graph Which of the factors could have resulted in the change irn aggregate demand seen between 2013 and 2014? 13 AD 2013 an improvement in technology O an increase in imports O higher consumer confidence O a decrease in oil prices 12 AD 2014 10 8 5 4 3 2 4 -3 2 1 0 1 2 3 4 5 6 78 9 10 Real GDP growth rateExplain why the following statements are false.a. “The aggregate-demand curve slopes downwardbecause it is the horizontal sum of the demandcurves for individual goods.”b. “The long-run aggregate-supply curve is verticalbecause economic forces do not affect long-runaggregate supply.”Which of the graphs represents the state of the economy before this pronouncement? Graph A Graph B True or False: President Roosevelt was trying to decrease aggregate supply. O True False
- The shape of the short-run aggregate supply (SAS) curve reflects two different types of microecanomic markets (auction markets and the posted price markets). How is the price level Vinked to the level of dutput in each market? List five factors that might cause an upward shift of the SAS curve. Maximum number of characters including HTML tags added by text editor): 32,000 w ih Tet fdter fand cheracte OuenFor a given aggregate supply curve, if the aggregate price level in an economy rises, O real GDP increases aggregate supply increases aggregate demand increaseswhat happen imports when price level increase ? Describe and show in graph