If all prices adjusted immediately to balance the quantities supplied and demanded for all goods and services output gaps would be positive more often than they would be negative. cyclical unemployment would be positive. potential GDP would rise much more quickly. output gaps would not exist.
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- Most economists reason that an economy adjusts to inflationary and recessionary gaps slowly because are fixed in the short run. Consumer preferences Тахes Wages Supplies of most of the inputsan increase in the price level cause the aggregate supply curve to shiftto anotherupply schedule. true or falseFull employment output is the level of output that firms in the economy supply when A- all capital is fully utilized B- the unemployment rate is zero C- taxes are zero D- consumption decreases and saving decreases
- What happened to the Pe and Qe if the market supply increase by 5% at all price levels without any increase in deman?Indicate whether each of the following statements is trueor false, and explain your reasoning. An intervention which raises nominal GDP will also decrease un-employment. Immigration into a country leads that country to focus more oncapital intensive goods.Assume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on: aggregate demand, aggregate supply, price level, real GDP.(a) A decrease in government expenditure in infrastructure(b) A severe recession occurs in a country which has been a major importer of thenation’s exports.(c) The federal government increases business taxes with diagram
- Many companies hold significant amounts of excess cash, that is, cash above the amount required for day-to-day operations. Does including excess cash as part of invested capital distort the ROIC upward or downward? Why?An expansion ends when the economy O has grown for two quarters in a row. O hits a trough and then enters a recession. O begins to grow following a peak. hits a peak and then enters a recession.When the economy is weak, fear of losing jobs cause consumers to cut back on spending. True False
- When real GDP is greater than potential GDP, there is ________ which leads the inflation rate to ________.Supply side considerations determine the level of output in the lone run wherein fixed capital and technology affects thr economy's productivity. True or falseAre there any “good” supply shocks? Explain