ADVANCED ANALYSIS Suppose that the equation for a particular short-run AS curve is P= 30 + 0.5Q, where Pis the price level and Q is real output in dollar terms. Instructions: Enter your answers as a whole number. a. What is Q if the price level is 130? b. Suppose that the Qin your answer is the full-employment level of output. By how much will Q increase in the short run if the price level unexpectedly rises from 130 to 144? By how much will Qincrease in the long run due to the price-level increase?

ADVANCED ANALYSIS Suppose that the equation for a particular short-run AS curve is P= 30 + 0.5Q, where Pis the price level and Q is real output in dollar terms. Instructions: Enter your answers as a whole number. a. What is Q if the price level is 130? b. Suppose that the Qin your answer is the full-employment level of output. By how much will Q increase in the short run if the price level unexpectedly rises from 130 to 144? By how much will Qincrease in the long run due to the price-level increase?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 7QR

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this is true or false: an increase in AS will result in more jobs for the economy as long as we are not at full employment output i understand an increase in AS will result in more jobs for the economy, but i dont understand the last part of the question. "as long as we are not at full employment output". doesnt the AS curve become vertical at Qfe? can you explain this for me? idk whether this is true or false.
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