Question Suppose a law in Xurbia requires employees to work more hours per week (without an increase in yearly pay); illustrate the effect of this by shifting the aggregate supply (AS) curve in the appropriate direction. Provide your answer below: Price Level Aggregate Supply
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- What effect will each shift have on price levels and quantities? Decrease in Aggregate Demand Decrease in Aggregate SupplyThe following table lists several determinants of aggregate supply. Fill in the table by indicating the changes in the determinants necessary to increase aggregate supply. Determinant Prices of Nonlabor Inputs Productivity Nominal Wage Rate Change Needed to Increase Short-Run Aggregate SupplyDescribe the change in aggregate supply that should result from each of the following changes in determinants. Assume that nothing else is changing besides the identified change. (In your answer, indicate whether the change will "Decrease" or "Increase" aggregate supply or have no effect.) (a) A rise in the average price of inputs; (b) An increase in worker productivity; (c) Government antipollution regulations become stricter; (d) A new subsidy program is enacted for new business investment in productive equipment; (e) Energy prices decline.
- 6. Nonprice-level determinants of aggregate supply The following graph shows a decrease in aggregate supply (AS) in a hypothetical economy. Specifically, aggregate supply shifts to the left from AS₁ to AS₂, causing the quantity of output supplied at a price level of 125 to fall from $250 billion to $150 billion. PRICE LEVEL (CPI) 200 175 150 100 50 25 0 0 50 AS2 AS₁ 100 150 200 250 300 REAL GDP (Billions of dollars) 350 400The new home market tends to be highly cyclical. Prices and home sales depend on the broader economy, including interest rates and personal income, among many other factors. Determine the affect of each of the following on the market for new homes including new home sales and the price of new homes. While you do not need to turn in a supply and demand diagram, you may wish to still draw one to assist you in answering the following questions. A robust economic expansion raises personal incomes Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity decreases and price decreasesThe computer industry developed a new technology that reduces the number of resources used to build new laptops per unit of labor. Illustrate what occurs to the aggregate supply curve by shifting it in the appropriate direction. Provide your answer below: Aggregate Supply! Price Level Aggregate Demand Real GDP
- Given the following circumstances, indicate whether or not the aggregate supply curve would shift and, if so, which way would it shift: The price of a barrel of oil doubles An advance in alternative energy technology significantly reduces its cost In order to maintain a relatively clean air quality, a carbon emissions tax is levied against firms with a carbon footprint As a result of fracking, the price of natural gas is significantly reduced Advances in technology increase the productivity of the American worker, on average, by 30%Connect assignment O es Use the following information to draw aggregate demand (AD) and aggregate supply (AS) curves on the following graph. Output Demanded (Aggregate Demand) Output Supplied (Aggregate Demand) Price Level 600 100 Price Level (average price) Instructions: Use the tools provided 'AD' and 'AS' to plot the aggregate demand (AD) and aggregate supply (AS) curves. Plot only the endpoints of each line (plot 2 points for each line-4 points total). Both curves are assumed to be straight lines. 900 800 700 600 500 400 300 200 100 0 0 $700 100 Aggregate Supply and Demand 200 $800 100 900 900 900 900 90 900 900 700 Real Output (quantity per year) Instructions: Enter your response as a whole number. a. What is the equilibrium price level? $ Tools AD D AS e b. What curve (AD or AS) would have shifted if a new equilibrium were to occur at an output level of 600 and a price level of $600? O AS would have shifted to the right. O AS would have shifted to the left. O AD would have…Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, a shift in neither curve, or a shift in both curves. If a shift is caused, indicate which curve shifts, and in which direction it shifts. What happens to aggregate output and the price level in each case? The price level changes. Consumer confidence increases. The supply of resources decreases. The wage rate decreases. There is no minimum word requirement for responses. Please label each section of your response with the appropriate number (1, 2, 3, 4). Compare the classical economic theory that was used prior to the Great Depression to the Keynesian theory used after the Great Depression.Your response must be at least 200 words in length.
- Use the following graph to answer the following questions. Line Y Price level (P) 100 80 B Line Z Line X2 Line X1 Real GDP (3) If point A occurs chronologically before point B, then this graph could represent a decrease in aggregate demand with a decrease in long-run and short-run aggregate supply. a decrease in aggregate demand with constant long-run and short-run aggregate supply. constant aggregate demand with a decline in long-run aggregate supply. an increase in aggregate demand with constant long-run and short-run aggregate supply. constant aggregate demand with a decline in short-run aggregate supply.The shape of the short-run aggregate supply (SAS) curve reflects two different types of microecanomic markets (auction markets and the posted price markets). How is the price level Vinked to the level of dutput in each market? List five factors that might cause an upward shift of the SAS curve. Maximum number of characters including HTML tags added by text editor): 32,000 w ih Tet fdter fand cheracte OuenIn 2010, the economy of Sanaton had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply 80 $1155.00 90 $1220.00 100 $1285.00 110. $1350.00 $1415.00 $1480.00 $1545.00 120 130 140 $1575.00 $1500.00 $1425.00 $1350.00 $1350,00 $1200.00 $1125.00 What was the equilibrium price level in Sanaton in 2010?
