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- 9 Multiple Choice Questions: Q1) In terms of aggregate supply, in the immediate short run: A) both input prices and output price are fixed. B) nominal wages in variable. C) real output is fixed. D)the price level is variable.28. Assume a country's government increases taxes and its central bank increases its administered interest rates. The actions will result in an increase in which of the following in the short run? (A) Aggregate demand (B) Aggregate supply (C) Investment spending (D) Unemployment (E) InflationQuestion 11 The unemployment rate measures: the number of people unemployed divided by the number of people employed. O unemployed workers as a percentage of the labor force. O unemployed workers as a percentage of the population age over-sixteen. O unemployed workers as a percentage of the population.
- 40.The Great Depression showed that the short-run aggregate supply and the aggregate demand curves: A. must always intersect at full employment. B.can never lead to deflation. C.can intersect at output levels below full employment. D.must intersect at output levels above full employment.Question 2:___________ inflation is caused by an increase in the cost of production, leading to higher prices for goods and services. This type of inflation can stem from various factors such as increases in labor costs, raw materials prices, or taxes. For example, if the price of oil rises significantly, it can lead to higher transportation and manufacturing costs, which in turn cause an increase in the prices of a wide range of goods and services.A) Demand-pullB) Cost-pushC) Built-inD) Stagflation Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.1) "Your answer must be wrong," a fellow classmate says. "The question is asking about the long run, but you say both the price level and real output change. That can't be true -- only prices change in the long run!" Your fellow classmate is Group of answer choices incorrect; this is only true when the AS curve is shifting. correct; In the long run, only prices can change from any shift. correct; only a change in government policy can change both prices and output in the long run. incorrect; this is only true when the AD curve is shifting Solve in one hour for upvote
- Which of the following would cause the aggregate price level to fall and the equilibrium level of real GDP to increase in the short run? Question 12 options: a) the short-run aggregate supply curve shifts left b) aggregate demand shifts right c) aggregate demand shifts left d) the short-run aggregate supply curve shifts rightQuestion 4 The economy is in long-run equilibrium when a. Aggregate demand intersects short-run aggregate supply b. Short-run aggregate supply intersects long-run aggregate supply c. Aggregate demand intersects long-run aggregate supply d. Aggregate demand intersects both long-run and short-run aggregate supply e. The inflation rate is equal to zeroIn 1986, OPEC countries increased their production of oil. This caused the price level to rise. aggregate supply to shift right. unemployment to rise. None of the above is correct.
- 2. Change in Demand Determinants: While supply-side factors played a significant role in the "perfect storm," changes in the demand for final crop products also contributed to the situation. As previously mentioned, the demand for fertilizer is derived from the demand for the crops that farmers grow. The weather-related disruptions to the fertilizer supply chain, along with increased demand for US crop products (as mentioned in the People's Republic of China scenario), could have led to a situation where farmers wanted more fertilizer to compensate for potential yield losses. Bring me the graph or curve3. Most global markets have been reporting severe contractions, which mainly responding to the COVID-19 pandemic. The situation is worsened by the decrease in people’s confidence in the government as policymakers, spreading a wave of pessimism towards the future prospect of the economy. Explain how such wave of pessimism, ceteris paribus, may lead to short-term economic fluctuations, which will eventually work to push the economy back towards its long-run equilibrium. Use relevant diagrams to support your answer.K2. Consider the case of the importing company IMP located in country I, which imports its raw materials form exporting company EXP located in country E. According to their contract this year company IMP has to pay E1Million to company EXP for its supplies. The current economic conditions are as follows: S(t=0,E/I)=0.5 Price Index(t=0,E)=1.2 Price Index (t=0,I)=1 The most likely macroeconomic scenario for next year predicts: inflation in country I from t=0 to t=1 at 4% inflation in country E from t=0 to t=1 at 1% A 10% nominal devaluation of currency I relative to currency E a) What is the nominal and real cost of the supplies for company IMP in terms of currency I for year t=0? b) What is the expected nominal and real cost of the supplies for company IMP in terms of currency I if the contract maintains the price of E1Million for year t=1? c) What will be the expected nominal and real cost for firm IMP if the two firms agree on a risk-sharing contract specifying an annual…
