If the price level increases in the economy, A) The total spending in the economy will fall. B)The aggregate supply will fall and shift to the left. C) The total spending in the economy will rise
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If the price level increases in the economy,
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- Now consider an economy in which the government lowers its spending. In the long run, the result would be _____________ in the price level and _____________ in real output. an increase; an increase a decrease; no change a decrease; a decrease None of the listed options is correct. no change; a decreaseAn increase in the price level causes the aggregate supply curve to shift to another supply schedule. True or FalseIn the short run, the decrease in consumption spending due to the increase in saving shifts the aggregate (demand, supply) curve to the (left, right), causing the price level to (fall below, rise above) the price level people expected, and the quantity of output to (fall below, rise above) potential output. The sharp increase in saving will cause the unemployment rate to (fall below, rise above) the natural rate of unemployment in the short run.
- If the government increases expenditures on goods and services and increases taxation by the same amount, which of the following will occur? A. Aggregate demand will be unchanged. B. Aggregate demand will increase. C. Interest rates will decrease. D. The money supply will decrease.• A series of natural disasters occurs that causes the following changes in the U.S. economy: The real gross domestic product drops by 4 percent. The inflation rate rises from 5 percent to 10 percent. Unemployment increases from 6 percent to 10 percent. Use aggregate demand and supply analysis to explain what has happened in the economy.When the price level falls Answer households want to lend more, so the interest rate rises making the quantity of goods and services demanded rise. households want to lend more, so the interest rate falls, making the quantity of goods and services demanded rise. households want to lend more, so the interest rate rises, making the quantity of goods and services demanded fall. None of the above are correct.
- How can shipping delays and shortages of intermediate goods cause a recession? Why may these issues lead to a reduction in consumer spending? Consider how consumers change the timing of their purchases to reflect the market.During recessions, taxes tend to a. rise and thereby increase aggregate demand. b. fall and thereby decrease aggregate demand. c. fall and thereby increase aggregate demand. d. rise and thereby decrease aggregate demand.If policymakers decrease aggregate demand, then in the short run the price level Answer falls and unemployment rises. and unemployment fall. and unemployment rise. rises and unemployment falls.
- Fill-in-the-Blank: An increase in the demand for consumption goods results in a (n) _________ in aggregate demand.Suppose that the government believes the economy is not producing goods and services at its optimal level. In an attempt to stimulate the economy, the government increases the quantity of money in the economy by printing more money. This monetary policy the economy's demand for goods and services, leading to product prices. In the short run, the change in prices induces firms to produce goods and services. This, in turn, leads to a level of unemployment. In other words, the economy faces a trade-off between inflation and unemployment: Higher inflation leads to unemployment.Aggregate demand is the total quantity of output A)consumers actually buy. B) producers are able and willing to supply at different price levels. C) demanded if the economy is in equilibrium. D) demanded at different price levels in a given time period.
