13. The following table shows the initial aggregate supply and demand data for a country. Price Aggregate Aggregate Supply Level Demand 200 10,000 4,000 300 9,000 6,000 400 8,000 8,000 500 7,000 9,000 600 6,000 9,500 700 5,000 9,800 800 4,000 9,900 If input prices rise and AS shifts to the left by 2,000 units at each price level, what output level will equal the new equilibrium price? (A) 6000 (B) 2000 (C) 8000 (D) 7000

13. The following table shows the initial aggregate supply and demand data for a country. Price Aggregate Aggregate Supply Level Demand 200 10,000 4,000 300 9,000 6,000 400 8,000 8,000 500 7,000 9,000 600 6,000 9,500 700 5,000 9,800 800 4,000 9,900 If input prices rise and AS shifts to the left by 2,000 units at each price level, what output level will equal the new equilibrium price? (A) 6000 (B) 2000 (C) 8000 (D) 7000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 29P: Predict how each of the following events will raise or lower the equilibrium wage and quantity of...

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