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Please write down a sentence or two for each one that explains the concept. Please include any formulas and rules that I should know for every subtopic aside from those two sentences.
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- AD-AS (aggregate demand/supply) Changes What things cause aggregate demand to shift? Why does each cause AD to shift? What things cause SRAS (short run aggregate supply) to shift What things cause LRAS (long run aggregate supply) to shift What graph/model does this relate to?In 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?In 1998, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply 70 $1415.00 $1115.00 80 $1360.00 $1160.00 90 $1305.00 $1205.00 100 $1250.00 $1250.00 110 $1250.00 $1295.00 120 $1140.00 $1340.00 130 $1085.00 $1385.00 What was the equilibrium price level in Aptonville in 1998?
- Classify the events according to their impact on aggregate demand (AD). A dramatic decline in the average price of houses will Increased concern that a recession is looming will An announcement by the central bank to maintain its existing monetary policy will A reduction in government spending will A dramatic improvement in the stock market, causing investors wealth to rise, will A recession occurring in a trading partner's economy will An increase in income tax rates on individuals earning more than $450,000 per year willIn 2010, the economy of Quarterville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 90 $1505.00 $1205.00 $1465.00 100 $1470.00 $1270.00 $1465.00 110 $1435.00 $1335.00 1 $1465.00 120 $1400.00 $1400.00 $1465.00 130 $1365.00 $1465.00 $1465.00 140 $1330.00 $1530.00 $1465.00 150 $1595.00 $1465.00 $1295.00 What was Quarterville's long-run equilibrium output in 2010? $|In 2013, the economy of Boonton had an aggregate demand and aggregate supply according to the following schedule: Price Level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 80 $1405 $1075 $1365 90 $1370 $1150 $1365 100 $1335 $1225 $1365 110 $1300 $1300 $1365 120 $1265 $1375 $1365 130 $1230 $1450 $1365 140 $1195 $1525 $1365 What was Boonton’s long-run equilibrium output in 2013?
- Move the short-run aggregate supply (SRAS) curve and/or the aggregate demand (AD) curve in the accompanying graph to demonstrate a negative supply shock. Aggregate price level SRAS x Real GDP Which of the following is most associated with a negative supply shock? Deflation O Stagflation DepreciationIn 1997, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 40 $1105.00 $1400.00 50 $1170.00 $1400.00 60 $1235.00 $1400.00 70 $1300.00 $1400.00 80 $1365.00 $1400.00 90 $1430.00 $1400.00 100 $1495.00 $1400.00 $1495.00 $1430.00 $1365.00 $1300.00 $1235.00 $1170.00 $1105.00 What was Aptonville's short-run equilibrium output in 1997? $|| If Aptonville cut taxes, how would short-run equilibrium quantity change? Increase ODecreaseIn 2003, the economy of Microtania had an aggregate demand and aggregate supply according to the following schedule: Price level Aggregate Demand Short-Run Aggregate Supply Long-Run Aggregate Supply 90 $1125.00 $1320.00 100 $1200.00 $1320.00 110 $1275.00 $1320.00 120 $1350.00 $1320.00 130 $1425.00 $1320.00 140 $1500.00 $1320.00 150 $1575.00 $1320.00 $1575.00 $1500.00 $1425.00 $1350.00 $1275.00 $1200.00 $1125.00 What was Microtania's short-run equilibrium output 2003? $| Calculate Microtania's output gap: $
- Decide if the following events are Micro, shifting supply or demand, or Macro, shifting AD or AS. Give the direction in which the graph shifts. Aggregate Supply Aggregate Demand Supply Deman Situation d 1 Sales of Atlanta United gear grows with the success of the team. The President and Congress pass a $600 billion stimulus bill to get the country back on track. 2 Salmonella outbreak in peanut processing plants threatens the lunches of millions of school children.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 outputQ.No.1. Differentiate the following by giving at least one practical exampleAggregate demand Vs Aggregate supply