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The short run aggragate supply curve slopes_______ showing a _____________ relationship between _______, a measure of output and ________.
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- 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 combined effects of these events on U.S. real GDP and the price level, starting froma position of long-run equilibrium.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. U.S. businesses expect future profits to fall. Explain the combined effects of these events on U.S. real GDP and the price level,starting from a position of long-run equilibrium.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.
- Firm X, a leading manufacturer of rubber tires in country A, caters to almost one-third of the domestic tire market. The country was hit by a recession last year that caused the national output growth to be negative. Simon Reeds, the CEO of firm X, feels that these fluctuations in the business environment are short-lived and expects the economy to recover very soon. In spite of the recession, Simon feels that the firm can actually invest in expanding its facilities as it has sufficient cash flows to continue its operation during the crisis period. The firm's marketing head, Sandra Jones, counters this by saying that the firm is already losing sales due to the recession and they should not increase costs further by making large-scale investments in the present climate. Which of the following, if true, would support the CEO's claim? A. The government recently announced a plan to offer incentives to buyers in the car and household appliances market. B.…Firm X, a leading manufacturer of rubber tires in country A, caters to almost one-third of the domestic tire market. The country was hit by a recession last year that caused the national output growth to be negative. Simon Reeds, the CEO of firm X, feels that these fluctuations in the business environment are short-lived and expects the economy to recover very soon. In spite of the recession, Simon feels that the firm can actually invest in expanding its facilities as it has sufficient cash flows to continue its operation during the crisis period. The firm's marketing head, Sandra Jones, counters this by saying that the firm is already losing sales due to the recession and they should not increase costs further by making large-scale investments in the present climate. Which of the following, if true, would support the marketing head's claim? A. In the previous recession, a leading player in the hospitality sector had expanded its facilities but was unable…Due to COVID-19 situations the oil prices fall in international market. Let’s assume that output starts at its natural level.What happens to country A's economy (output and price) in the LONG run? Explain your answers using graphs. (150words)
- Discuss the impact of the increase in government taxes on investment in the long run.Per-unit production cost is: A) a determinant of aggregate demand. B) real output divided by inputs. C) units of output divided by total input cost. D) total input cost divided by units of output.Due to COVID-19 situations the oil prices fall in international market. Let’s assume that output starts at its natural level. a. What happens to the Pakistan’s economy (output and price) in the short run? Explain your answer using AS-AD graphs. b. What happens to Pakistan’s economy (output and price) in the long run? Explain your answers using graphs.
- Only typed answer and don't use chat gpt The long run aggregate supply curve is vertical because a. the aggregate demand curve is downward sloping. b. the production possibilities curve is vertical. c. technology increases at a constant rate. d. resource prices (such as labor) adjust to changes in the price level.In the (post) Keynesian theory prices are “management-based” (firms set prices)and “cost-determined”. Discuss.In 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?