Suppose that the table below shows an economy's relationship between real output and the inputs needed to produce that output:
Suppose that the table below shows an economy's relationship between real output and the inputs needed to produce that output: a. What is the level of productivity in this economy? Instructions: Round your answer to two decimal places. b. What is the per-unit cost of production if the price of each input unit is $5? Instructlons: Round your answer to two decimal places. $:| c. Assume that the input price increases from $5 to $6 with no accompanying change in productivity. What is the new per-unit cost of production? Instructions: Round your answer to two decimal places. 55: In what direction would the $1 increase in input price push the aggregate supply curve? The aggregate supply curve would shift to th J {Click to select} left What effect would this shift ofthe short-run a right e on the price level and the level of real outpu_ d. Suppose that the increase in input price does not occur but, instead, that productivity increases by 25%. What would be the new Suppose that the table below shows an economy's relationship between real output and the inputs needed to produce that output: a. What is the level of productivity in this economy? Instructions: Round your answer to two decimal places. b. What is the per-unit cost of production if the price of each input unit is $5? Instructions: Round your answer to two decimal places. $ c. Assume that the input price increases from $5 to $6 with no accompanying change in productivity. What is the new per-unit cost of production? Instructions: Round your answer to two decimal places. $ In what direction would the $1 increase in input price push the aggregate supply curve? The aggregate supply curve would shift to the (Glidt in select) v . What effect would this shi of the short-run aggregate supply have on the price level and the level of real outp J (Click to select] Both price level and real output would remain the same. Price level would decrease and real output would remain the same. Price level would decrease and real output would increase. Price level would increase and real output would decrease. d. Suppose that the increase in input price does not occur but, instead. that productivity increases by 2596. Wh d. Suppose that the increase in input price does not occur but, instead, that productivity increases by 25%. What would be the new per-unit cost of production? Instructions: Round your answer to three decimal places. $ What effect would this change in per-unit production cost have on the short-run aggregate supply curve? The aggregate supply curve will shift to the (Click to select) left What effect would this shift of the short-rur right have on the price level and the level of real output? (Click to select) vd. Suppose that the increase in input price does not occur but, instead, that productivity increases by 25%. What would be the new per-unit cost of production? lnstructlons: Round your answer to three decimal places. $ What eect would this change in per-unit production cost have on the shortrun aggregate supply curve? The aggregate supply curve will shi to the (Click to select] v . What effect would this shift of the short-run aggregate supply have on the price level and the level of real outp J [Click to select] Price level would decrease and real output would remain the 3am Both price level and real output would remain the same. Price level would increase and real output would decrease. Price level would decrease and real output would increase
