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S09.,hello, I know for sure that answer "positive supply shock; LRAS to the right,"
is wrong. ?
Step by step
Solved in 2 steps
- Negative supply shocks cause OA. falling unemployment. OB. expansion. OC. increases in GDP. OD. cost-push inflation.Refer to the figure below. The aggregate supply curve shifting from AS1 to AS2 will cause Price level РА P2 P₁ Po — O cost-push inflation Ohyperinflation deflation A O demand-pull inflation B Y2 Y₁ Yo Aggregate output AS2 AS₁ ASO AD₁ Ysupply shock, such as the development of a new technology, production costs and shifts the short run aggregate supply curve A Negative; lowers; rightward Negative, raises, leftward O Positive; lowers; rightward Positive; raises, leftward The initial effect of a shift in the aggregate curve is a rise in both th. price level and output "
- Determine the effect on aggregate demand/ Short Run Agrregate supply of each of the followingevents. Explain whether it represents a movement along the aggregate demand/ Short run Aggregatesupply curve (up or down) or a shift of the curve (leftward or rightward).a) News of a worse-than-expected job market next yearb) A rise in the consumer price index (CPI) leads producers to increase output.c) A rise in legally mandated retirement benefits paid to workers leads producers to reduceoutput.d) As a result of an increase in the value of the dollar in relation to other currencies, Americanproducers now pay less in dollar terms for foreign steel, a major commodity used in production.e) An increase in the quantity of money by the Federal Reserve increases the quantity of moneythat people wish to lend, lowering interest rates.f) Greater union activity leads to higher nominal wages.g) A fall in the aggregate price level increases the purchasing power of households’ and firms’money holdings. As…A change in which of the following would shift theshort-run aggregate-supply curve but not the longrun aggregate-supply curve?a. the labor forceb. the capital stockc. the state of technologyd. the expected price levelWhat is the primary cause of demand-pull inflation? an event that causes the short-run aggregate supply curve to shift right O an event that causes the short-run aggregate supply curve to shift left an event that causes the aggregate demand curve to shift right an event that causes the aggregate demand curve to shift left
- sid c:z Suppose policymakers take actions that cause a contraction of aggregate demand. Which of the following is a short- run consequence of this contraction? The level of output decreases. The unemployment rate increases. O The inflation rate decreases. O All of the other answers are correct.An increase in long-run aggregate supply can be expected to the natural rate of unemployment. have no effect on; increase O b. have no effect on; have no effect on C. decrease; have no effect on d. increase; have no effect on a. Oe. decrease; decrease Time left 0:07:34 the price level andRefer to the graph to the right. The shift from AS, to AS₂ shown in the diagram is referred to as a(n) OA. decrease in unit costs. B. increase in unit costs. OC. negative aggregate supply shock. OD. positive aggregate supply shock. Price Level P₁- B A AS₂ AS₁
- The figure to the right shows an economy in a short-run equilibrium at point A Using the three-point curved line drawing tool, illustrate cost-push inflation. Properly label this curve Note: Carefully follow the instructions above and only draw the required object. Which of the following is most likely to cause the cost shock that shifts the AS curve consistent with cost-push inflation? A. A surge in the price of crude oil. OB. A tax increase on households. OC. An increase in the size of government. OD. A flood of new immigrants. Price level, Pa AD₂ Yo Aggregate output (income), Y AS duIf a short run equilibrium occurs at a level of output below the full-employment output, then there will be a(n)_______________, and (in the absence of government policy intervention) during the transition to the long run equilibrium output will ____________.a. inflationary gap; rise. b. inflationary gap; decrease.c. recessionary gap; rise. d. recessionary gap; decrease.Suppose that political instability in the Middle East interrupts the supply of oil. The and prices aggregate demand; left; decreases; decrease short-run aggregate supply; right; increases; decrease aggregate demand; right; increases; increase short-run aggregate supply; left; decreases; increase curve shifts output