\f11 360 70 310 30 230 90 14 130 130 15 70 110 Refer to Exhibit 3-14. At a price of $15. there is a unit ) 90:; M O 20; A - 40; - 40; ) 20; of good X. shortage surplus surplus shortage surplus Question 48 2.5 pts Exhibit 3 Quantity Refer to Exhibit 3. At a price of $20, the quantity demanded of good X is than the quantity supplied of good X, and economists would use this information to predict that the price of good X would soon . This would push the price the equilibrium Refer to Exhibit 3. At a price of $20, the quantity demanded of good X is than the quantity supplied of good X, and economists would use this information to predict that the price of good X would soon . This would push the price the equilibrium price. O greater: fall; toward (O greater:; rise; toward O less; fall; toward O less: rise: away from - () less: rise: toward Question 50 2.5 pts The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply model. Suppose that AD2 and AS1 represent the initial aggregate demand and aggregate supply in the economy. Figure 18 A53 A 451 E A52 U.S. Price Level ADS AD AD2 100 200 300 400 500 Real GDP (billions of dollars)100 200 300 400 500 Real GDP (billions of dollars) download and view the image. Thank you.) | Refer to Figure 18. Which of the following is most likely to have led to the movement of equilibrium from point D to point C? O Increasing net exports (O Decreased investment spending (O Adecline in the domestic price level relative to foreign price level (O An improvement in the quality of labor (O An increase in the real wage rates Question 51 2.5 pts In the figure given below, D4 and S, are the original demand and supply curves. Figure 20 C Quantity download and view the image. Thank you.) | = xp. i Quantity download and view the image. Thank you.) | Refer to Figure 20. If demand shifts from D4 to D, and supply shifts from S, to Sy: O equilibrium price will fall to D, but equilibrium quantity will remain at B. O equilibrium price will move to E and equilibrium quantity to A. () demand will decrease and supply will decrease. (O equilibrium price will rise to G, and equilibrium quantity will remain at B. (O both equilibrium price and equilibrium quantity will decrease. D Question 52 2.5 pts The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply mode. In the figure below, AD is the aggregate demand curve; SRAS is the short-run aggregate supply curve; LRAS is the long-run aggregate supply curve. Figure 17 Price Level LRAS SRAS2 SRAS, D A AD1 AD Real GDPAD, AD Real GDP (Attention: If you can't see Figure 17, please click here to download and view the image. Thank you.) L Refer to Figure 17. If the economy starts at A, a lower real interest rate moves the economy from A to: O B in the short run and the long run. O B in the short run and C in the long run. O B in the short run and A in the long run. O D in the short run and A in the long run. O D in the short run and C in the long run