Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the long run O the aggregate supply curve is upward sloping. O real GDP is equal to potential GDP. O aggregate supply depends on

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
In the long run O the aggregate supply curve is upward sloping. O real GDP is equal to potential GDP. O aggregate supply depends on the price level. O All of these answers are correct.One reason that the aggregate demand curve has a negative slope is that when the domestic price level rises, O firms produce more goods and services. O firms produce fewer goods and services. O people substitute toward more imported goods and services. O peoples' wealth increases.An increase in the quantity of capital increases and increase in the full- employment quantity of labor increases O both the SAS and the LAS; only the SAS O both the SAS and the LAS; only the LAS O both the SAS and the LAS; both the SAS and the LAS O only the LAS; both the SAS and the LASThe quantity of real GDP supplied depends on the O level of aggregate demand. O quantity of capital, bonds, and stocks. O quantity of labor, the quantity of capital, and the state of technology. O price level, the unemployment rate, and the quantity of government expenditures on goods and services.Which of the following increases aggregate demand? O an increase in taxes O an increase in the quantity of money O an increase in the exchange rate O a decrease in government expenditures

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics

Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward

5th Edition

1337106666, 978-1337106665

More Books

Students also viewed these Economics questions