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Chrome File e Edit View History y Bookmarks People Tab Window Help 1090F 3477rpm 100% [ZZ Sat Mar 6 12:23:40 PM Monique Dinky Q DE .. . Spotify - Liked Songs X MindTap - Cengage Le: X Bb Collection - 2021SP-E( X G how is unemployment ( X C Search Textbook Solut X Homework Help - Q&A X + C a ng.cengage.com/staticb/ui/evo/index.html? deploymentld=5981411816101690856962438939&eISBN=9780357133576&snapshotld=2133955&id=1021766... Paused Update Monique CENGAGE | MINDTAP Q Search this course ? My Home Homework(Ch 33) X Courses 9. Economic fluctuations II Catalog and Study Tools The following graph shows the short-run aggregate supply curve (AS), the aggregate demand curve (AD), and the long-run aggregate supply curve ( Partner Offers LRAS) for a hypothetical economy. Initially, the expected price level is equal to the actual price level, and the economy is in long-run equilibrium at its A-Z natural level of output, $120 billion. Rental Options Suppose war in the world's main oil-producing region sharply reduces the world oil supply, causing oil prices to rise and increasing the costs of College Success Tips producing goods and services in this economy. Career Success Tips Use the graph to help you answer the questions about the short-run and long-run effects of the increase in production costs that follow. (Note: You ? Help will not be graded on any adjustments made to the graph.) Give Feedback Hint: For simplicity, ignore any possible impact of the higher oil prices on the natural level of output. bongo ? 140 LRAS O 135 AS AD A+ 130 125 AS LEVEL 120 estmt_2020-12-16.pdf estmt_2021-01-14.pdf estmt_2021-02-11.pdf Show All X 6 1 7 6 6 67 X N O W X Lr Pr PS A Id IC Fl Ai DWChrome File e Edit View History y Bookmarks People Tab Window Help 109OF 3479rpm 100% [27 Sat Mar 6 12:23:44 PM Monique Dinky Q DE .. . Spotify - Liked Songs X MindTap - Cengage Le: X Bb Collection - 2021SP-E( X G how is unemployment ( X C Search Textbook Solut X Homework Help - Q&A X + C a ng.cengage.com/staticb/ui/evo/index.html? deploymentld=5981411816101690856962438939&eISBN=9780357133576&snapshotld=2133955&id=1021766... Paused Update Monique K C a ng.cengage.com/staticb/ui/evo/index.html? deploymentld=5981411816101690856962438939&eISBN=9780357133576&snapshotld=2133955&id=1021766... Paused Update Monique CENGAGE | MINDTAP Q Search this course ? My Home Homework(Ch 33) X Courses 125 AS Catalog and Study Tools PRICE LEVEL 120 A A-Z Partner Offers 115 LRAS Rental Options 110 AD College Success Tips 105 Career Success Tips 100 100 105 110 130 135 140 ? Help OUTPUT (Billions of dollars) Give Feedback bongo The short-run economic outcome resulting from the increase in production costs is known as Now suppose that the government decides not to take any action in response to the short-run economic impact of the higher oil prices. In the long run, when the government does nothing, the output in the economy will be |$ billion and the price level will be A+ Grade It Now Save & Continue Continue without saving estmt_2020-12-16.pdf eStmt_2021-01-14.pdf estmt_2021-02-11.pdf Show All X 6 1 7 6 1 6 7 X N O W 2 LY Pr PS A Id IC Fl Ai DW
