Suppose that an economy begins in long-run equilibrium before the price level and real GDP both decline
Question:
Suppose that an economy begins in long-run equilibrium before the price level and real GDP both decline simultaneously. If those changes were caused by only one curve shifting, then those changes are best explained as the result of:
a. the AD curve shifting right.
b. the AS curve shifting right.
c. the AD curve shifting left.
d. the AS curve shifting left.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
If an economy begins in longrun equilibrium and experiences a simultaneous decline in the price leve...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Macroeconomics
ISBN: 9781264112456
22nd Edition
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
Question Posted:
Students also viewed these Business questions
-
Determine the normal force, shear force, and moment at points E and F of the compound beam. Point E is located just to the left of 800-N force. A 800 N E -1.5 m-1 1200 N 4 5 3 B m2 m- 400 N/m \F -1...
-
1. In the classical model, it is thought that the long-run: A. and short-run aggregate supply curves are both upward sloping. B. aggregate supply curve is vertical and the short-run aggregate supply...
-
MCQ questions: 1. An increase in oil prices, such as the oil shocks in the 70s, lead to _______ thereby causing ________ a movement along the AS curve; cost-push inflation a leftward shift in the AS...
-
You want to conduct a study on commuters in NYC and how muchtime they spend traveling to and from work every day. You decide towait outside the subway stations from Monday to Friday, 9am to 5pm,and...
-
Presented below are selected ledger accounts of McGraw Corporation as of December 31, 2019. Cash......................................................................50,000 Administrative...
-
Let a 0. Solve |x| 3.
-
Use arbitrage to calculate forward selling of yens against euros at 3 months. What information do you need to do the calculation?
-
How do you think each of the following items would affect a companys ability to attract new capital and the flotation costs involved in doing so? a. A decision of a privately held company to go...
-
grade for a statistics student are given. What is the student's weighted mean score? The student's weighted mean score is 91.50 (Simplify your answer. Round to two decimal places as needed.) Score...
-
Identify the two descriptions below as being the result of either cost-push inflation or demand-pull inflation. a. Real GDP is below the full-employment level and prices have risen recently. b. Real...
-
Suppose that AD and AS intersect at an output level that is higher than the full-employment output level. After the economy adjusts back to equilibrium in the long run, the price level will be...
-
Spend some time studying Yammer (www.yammer.com), which is an enterprise social network. What is the basis of Yammers business opportunity? Evaluate Yammer on the four essential qualities of an...
-
Elizabeth Cole, the senior auditor-in-charge of the audit of Thorne Company, a small manufacturer, was busy writing the audit report for another engagement. Accordingly, she sent Martin Joseph, a...
-
Tom Jones, CPA, is auditing the financial statements of a manufacturing company with a significant amount of trade accounts receivable. Jones is satisfied that the accounts are properly summarized...
-
Walter Conn, CPA, is engaged to audit the financial statements of Matthews Wholesaling for the year ended December 31,200X. Conn obtained and documented an understanding of internal control relating...
-
At the beginning of your annual audit of Crestview Manufacturing Company's financial statements for the year ended December 31, 200X, the company president confides in you that Henry Ward, an...
-
Ming, CPA, is engaged to audit the financial statements of Wellington Sales, Inc., for the year ended December 31, 200X. Ming obtained and documented an understanding of Wellington's internal control...
-
Which of the following are qualified replacement properties for properties involuntarily converted? Explain. a. The insurance proceeds from a warehouse destroyed by a fire are used to purchase a...
-
Choose two matrices A and B with dimension 2 x 2. Calculate det A, det B, and det (AB). Repeat this process until you are able to discover how these three determinants are related. Summarize your...
-
Suppose that the demand for Federal funds curve is such that the quantity of funds demanded changes by $120 billion for each 1 percent change in the Federal funds interest rate. Also, assume that the...
-
Refer to Table 16.2 and assume that the Feds reserve ratio is 10 percent and the economy is in a severe recession. Also suppose that the commercial banks are hoarding all excess reserves (not lending...
-
Refer to Table 16.2 and assume that the Feds reserve ratio is 10 percent and the economy is in a severe recession. Also suppose that the commercial banks are hoarding all excess reserves (not lending...
-
Una pliza bsica de vivienda DP-1 ofrece cobertura de ___________ y ??valoraciones de ___________. A. peligro nombrado; costo de remplazo B. peligro abierto; valor actual efectivo C. peligro abierto;...
-
Asume que ocupas el puesto de gerente de finanzas en una empresa que actualmente enfrenta un ciclo de temporada baja anual, lo que ha generado un nivel bajo de flujo de efectivo. Esta disminucin en...
-
Cost accounting systems have adapted over time to accommodate changes in: operational environments. technology. management reporting requirements. all of the options listed.
Study smarter with the SolutionInn App