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The aggregate production curve is a 45 degree line. [True or False] – Explain Why
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- What is the definition of labor productivity? Please list the factors that affect labor productivity. President Bush lowered income taxes for individuals in 2001. Explain how lower income taxes affect the aggregate demand curve.Assume that we have a Cobb-Douglas type aggregate production function in the form: Y = Ka.Lb c. Briefly explain why y'>0 or dy/dk > 0 . Is it possible that dy/dk < 0 ? Why? d. Briefly explain why y'' ≤ 0 . e. Find the elasticity of substitution between K and L. What does expansion path look like?The demand for Home output from foreign countries increased in an economy which was initially in the long-run equilibrium. In the short-short-run, the economy deviated from its full employment output level. After that, in the long-run, which curve (AD, SRAS, or LRAS) would shift to direction (Left or Right)? Curve: Direction:
- Why does the short-run aggregate supply curve slope upward to the right? If the prices of both (a) resources and (b) goods and services increased proportionally (by the same percentage), would business firms be willing to expand output? Why or why not?What is the new GDP in the short-run as a result of this shift? What is the new price level in the short-run as a result of this shift? What is the price level in the new long-run equilibrium as a result of this shift? What is GDP in the new long-run equilibrium as a result of the shift?If the price level in the economy goes up while all other factors affecting the economy remains the same,briefly explain how this increase in P will reduce C, I and NX.
- Which of the following would not cause a shift in the long-run aggregate supply curve? a) An increase in the available capital b) An increase in the available technology c) An increase in price expectations d) An increase in the available labour e) All the aboveQuestion: How does the concept of aggregate demand relate to overall economic output, and what factors can influence changes in aggregate demand? A) Aggregate demand represents the total wealth of a nation and is unaffected by external factors. B) Aggregate demand is the total spending in an economy and includes consumption, investment, government spending, and net exports; factors like changes in consumer confidence can influence it. C) Aggregate demand solely considers government spending and is unrelated to economic output. D) Aggregate demand is the total production in an economy and is determined solely by government policies.The graph shows an economy that has experienced a fall in total spending. What is the long run output level in this economy? (Answer in trillions of $.) $_____
- Please Use the Aggregate supply and Aggregate Demand Model below to answer the questions that follow. Examine the influence of government expenditure on investment in a nation. Use Jot Inc. Ltd a multinational construction company in which you are the Chief Exec of the firm that that is highly diversified and recieves funds to construct highways and other government funded projects. Also, explain the factors that cause the Aggregate Demand curve to be downward sloping left to right. Thanksthis is all one question,but i dont know how these effect long run aggregateinclude a graph that shows where Canada currently is on the business cycle. Also include an AD-AS Model graph that shows if the economy is currently experiencing a recessionary gap, expansionary gap, or long run equilibrium.