During the Great Recession, aggregate demand supply ---- and long-run aggregate O a) increased; decreased O b) increased; increased Oc) decreased; decreased O d) remained unchanged; decreased Oel decreased: remained unchanged
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- Assume that aggregate demand is unaffected by the oil price spike. After the economy has fully adjusted to the oil price spike, the long-run effect is (no change, an increase, a decrease) in aggregate output and (no change, an increase, a decrease) in the price level.Because fluctuations in the world oil price make the U.S. short-run macroeconomic equilibrium fluctuate, someone suggests that the government should vary the tax rate on oil, lowering the tax when the world oil price rises and increasing the tax when the world oil price falls, to stabilize the oil price in the U.S. market. If this suggestion is implemented, when the world price of oil ______, aggregate supply would ______. A. changes; not change B. falls; increase C. rises; decrease D. falls; decrease E. rises; increaseAssume that aggregate demand is unaffected by the gas tax holiday. After the economy has fully adjusted to the gas tax holiday, the long-run effect is (an increase, no change, a decrease) in aggregate output and (an increase, no change, a decrease) in the price level.
- Assume that the United States economy is currently in a recession in a short-run equilibrium. Draw a correctly labeled graph of aggregate demand and aggregate supply in the recession and show each of the following. The long-run equilibrium output, labeled YfSuppose 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 outputIn 2006, the economy of Aptonville had an aggregate demand and aggregate supply according to the following schedule: Price Level Aggragate Demand Shortrun Aggragate Supply 90 $1325 $1085 100 $1300 $1140 110 $1275 $1195 120 $1250 $1250 130 $1225 $1305 140 $1200 $1360 150 $1175 $1415 What was Aptonville’s short-run equilibrium output in 2006?
- Europe and Asia both fall into deep economic recessions. What impact will this have on U.S. aggregate demand? OPTIONS: U.S. aggregate demand curve will shift to the right. U.S. aggregate demand will remain unchanged. None. A nation’s aggregate demand is only affected by its own economic conditions. U.S. aggregate demand will decrease.The following events have occurred in the history of the United States: A deep recession hits the world economy. The world oil price rises sharply. S. businesses expect future profits to fall. Explain the separate effects of each event on U.S. real GDP and the price level, starting from a position of long-run equilibrium.Assume that Canada is initially in long run equilibrium. Discuss how each of the following four events would affect aggregate demand, the price level and real GDP of Canada There is a sharp rise in Canada’s exchange rate The Canadian Federal Government cut the Corporate Income Tax significantly. There is a recession in China, which is a large importer of Canadian agricultural goods Due to a global health concern, there is a travel restriction of foreign travellers coming to Canada
- Suppose firms become very optimistic about future business conditions and invest heavily in new capital equipment. a. Draw an aggregate-demand/aggregate-supply diagram to show the short-run effect of this optimism on the economy. Label the new levels of prices and real output. Explain in words why the aggregate quantity of output supplied changes. b. Now use the diagram from part (a) to show the new long-run equilibrium of the economy. (For now, assume there is no change in the long run aggregate-supply curve.) Explain in words why the aggregate quantity of output demanded changes between the short run and the long run. c. How might the investment boom affect the long run aggregate-supply curve? ExplainSuppose firms become very optimistic about future business conditions and invest heavily in new capital equipment. a. Draw an aggregate-demand/aggregate-supply diagram to show the short-run effect of this optimism on the economy. Label the new levels of prices and real output. Explain in words why the aggregate quantity of output supplied changes. b. Now use the diagram from part (a) to show the new long-run equilibrium of the economy. (For now, assume there is no change in the long run aggregate-supply curve.) Explain in words why the aggregate quantity of output demanded changes between the short run and the long run. c. How might the investment boom affect the long run aggregate-supply curve? Explain Plaese mam/sir give me answer in deatail as soon as possible pleaseSuppose firms become very optimistic about future business conditions and invest heavily in new capital equipment. Show the short-run effect of this optimism on the aggregate-demand curve.
