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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 rateQuestion 1 Increase aggregate supply - both SRAS and LRAS - occurs due to all of the following, except: O good harvests O increased labor supply O technological breakthroughs O discoveries A Moving to another question will save this response. e pr O search F3 68 $ 3 4 E R D F II 방 F5 % 5 T G O F6 <6 Y H & 7 10 D F8 00 8 F9 1 KDetermine the effect on aggregate demand/ Short Run Agrregate supply of each of the followingevents. Explain whether it represents a movement along the aggregate demand/ Short run Aggregatesupply curve (up or down) or a shift of the curve (leftward or rightward).a) News of a worse-than-expected job market next yearb) A rise in the consumer price index (CPI) leads producers to increase output.c) A rise in legally mandated retirement benefits paid to workers leads producers to reduceoutput.d) As a result of an increase in the value of the dollar in relation to other currencies, Americanproducers now pay less in dollar terms for foreign steel, a major commodity used in production.e) An increase in the quantity of money by the Federal Reserve increases the quantity of moneythat people wish to lend, lowering interest rates.f) Greater union activity leads to higher nominal wages.g) A fall in the aggregate price level increases the purchasing power of households’ and firms’money holdings. As…
- ament Score: 37.6% Resources Lx Give Up? Hint on 4 of 15 <. Suppose that the dynamic aggregate demand curve in Swaziland is determined by the equation M+ D= 6%. Using this information, draw Swaziland's dynamic aggregate demand curve on the graph. 13 Aggregate demand 12 11 10 8. 9. 4. 1. -3 -2 -1 0. 2. 3. Real GDP growth rate 5. 6. 10 4. 4. 7. 14 Inflation rateAssume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on: aggregate demand, aggregate supply, price level, real GDP.(a) A decrease in government expenditure in infrastructure(b) A severe recession occurs in a country which has been a major importer of thenation’s exports.(c) The federal government increases business taxes with diagramRefer to the figure to answer two questions. Price Level (average price) PE E a. How much output is unsold at the price level P₁? OD-S OS-QE 05-D₁ OQE-Di OP₁ b. At what price level is all output produced sold? OP₁-PE O PE+ P1 OPE Aggregate supply D₁ QE S₁ Real Output (quantity per year) Aggregate demand
- What are the factors other than price that can shift aggregate demand curve interms of investment and consumption? Also explain graphically.10. Great Depression In 1939, with the U.S. economy not yet fully recovered from the Great Depression, President Roosevelt proclaimed that Thanksgiving would fall a week earlier than usual so that the shopping period before Christmas would be longer. Graph A Graph B LRAS Aggregate Supply Aggregate Demand Price Level LRAS Quantity of Output Price Level Aggregate Supply Aggregate Demand Quantity of OutputNew answerrrrccc
- AMoving to another question will save this response. Quèstion 4 AS curve ( aggregate supply curve ) will shift left if O Business costs fall. Business taxes fall. O Natural disaster occurs. Bounteous harvests occur. onnthor question will save this response.is this corrext Question 21 n +) The Circular Flow contains the elements of O aggregate supply O the Pride Lands O aggregate demand O parts of both aggregate demand and aggregate supplyThe aggregate supply (AS) function shows that as price levels rise, firms will supply less output because prices are higher. O True O False
