Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Chapter 10, Problem 5QQ
To determine
Indicators of recession.
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A change in the expected price level shifts
a. the aggregate demand curve.
b. the short-run aggregate supply curve, but not the long-run aggregate supply curve.
c. the long-run aggregate supply curve, but not the short-run aggregate supply curve.
d. both the short-run and the long-run aggregate supply curves.
A sudden crash in the stock market shifts
a.the aggregate demand curve.
b. the short-run aggregate supply curve, but not the long-run aggregate supply curve.
c. the long-run aggregate supply curve, but not the short-run aggregate supply curve.
d. both the short-run and the long-run aggregate supply curves.
A change in the expected price level shiftsa.the aggregate-demand curve.b.the short-run aggregate supply-curve,but not the long- run aggregate supply-curve.c.the long-run aggregate supply-curve,but not the short- run aggregate supply-curve.d.both the short-run and the long-run aggregate supply-curve
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- 53. Which of the following would qualify as an aggregate supply shock? a. An unexpected increase in oil prices b. seasonally expected increase in oil prices c. An unexpected reduction in consumer confidence d. An anticipated tax cutarrow_forwardif european economies experience a period of sustained recession and the US does not, what will happen in the US a. an increase in aggregate deman b. increase in aggregate supply c. decrease in aggregate demand d. decrease in aggregate supplyarrow_forwardWhich of the following leads to a rightward shift in the aggregate demand? a. General price level fall b. Rise in government spending c. General price level rise d. Fall in government spendingarrow_forward
- h A period during which aggregate output declines. A) Recession B) Expansion C) Inflationarrow_forwardAggregate Demand will increase if: A. Imports fall. B. Investment falls. C. Consumption falls. D. Exports fall.arrow_forwardShortly before the start of the recession in 2008, housing prices fell and wealth declined. The aggregate supply/demand model suggests this caused A. a decline in consumption and a decrease in aggregate demand. B. a decline in investment and a decrease in aggregate demand. C. a rise in consumption and decrease in aggregate demand. D. a decline in consumption and an increase in short-run aggregate supplyarrow_forward
- Unemployment would decrease and prices would increase if a. aggregate supply shifted left. b. aggregate demand shifted right. c. aggregate supply shifted right. d. aggregate demand shifted left.arrow_forwardin Suppose the U.S. dollar depreciates. This will cause a.aggregate demand to fall. b.aggregate demand to rise. c.a movement down along aggregate demand curve. d.a movement up along aggregate demand curve.arrow_forwardEurope and Aisa both fall into deep economic recessions. What impact will this have on the U.S. aggregate demand? A. None B. U.S. aggregate demand shifts will be offset by aggregate supply shifts C. U.S. aggregate demand will decrease D. The U.S. aggregate demand curve will shift to the rightarrow_forward
- 1. There is a positive aggregate demand shock. Draw what happens to the economy in the short run. Also explain with words.arrow_forwardThe aggregate supply shifts to the right if: A. supplies of resources increase. B. investment increases. C. wage rates increase. D. consumption increases.arrow_forwardSuppose that aggregate supply deceases while aggregate demand held constant. a. What happens to the price level? b. What happens to national output?arrow_forward
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