MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 10.A, Problem 3SQ
To determine
The reason causing decrease in short run
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Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, or neither. For each event that does shift a curve, use a diagram to illustrate the effect on the economy.a There is a reduction in household income tax.b A cyclone destroys the year’s wheat crop.c Households decide to have less children.d A significant amount of iron ore is found in Western Australia, capable of supplying world trade for the next 50 years.
A change in which of the following would shift the short-run aggregate-supply curve but not the long-run aggregate-supply curve?
a)the labor force
b)the expected price level
c)the capital stock
d)the state of technology
Which of the following shifts aggregate supply to the right?
a.
a decline in the price of imported natural resources
b.
a technological advance
c.
an older labor force that leaves jobs less frequently
d.
All of the above are correct.
Chapter 10 Solutions
MACROECONOMICS FOR TODAY
Ch. 10.7 - Prob. 1YTECh. 10.A - Prob. 1SQPCh. 10.A - Prob. 2SQPCh. 10.A - Prob. 3SQPCh. 10.A - Prob. 4SQPCh. 10.A - Prob. 5SQPCh. 10.A - Prob. 6SQPCh. 10.A - Prob. 1SQCh. 10.A - Prob. 2SQCh. 10.A - Prob. 3SQ
Ch. 10.A - Prob. 4SQCh. 10.A - Prob. 5SQCh. 10.A - Prob. 6SQCh. 10.A - Prob. 7SQCh. 10.A - Prob. 8SQCh. 10.A - Prob. 9SQCh. 10.A - Prob. 10SQCh. 10.A - Prob. 11SQCh. 10.A - Prob. 12SQCh. 10.A - Prob. 13SQCh. 10.A - Prob. 14SQCh. 10.A - Prob. 15SQCh. 10.A - Prob. 16SQCh. 10.A - Prob. 17SQCh. 10.A - Prob. 18SQCh. 10.A - Prob. 19SQCh. 10.A - Prob. 20SQCh. 10 - Prob. 1SQPCh. 10 - Prob. 2SQPCh. 10 - Prob. 3SQPCh. 10 - Prob. 4SQPCh. 10 - Prob. 5SQPCh. 10 - Prob. 6SQPCh. 10 - Prob. 7SQPCh. 10 - Prob. 8SQPCh. 10 - Prob. 9SQPCh. 10 - Prob. 10SQPCh. 10 - Prob. 11SQPCh. 10 - Prob. 1SQCh. 10 - Prob. 2SQCh. 10 - Prob. 3SQCh. 10 - Prob. 4SQCh. 10 - Prob. 5SQCh. 10 - Prob. 6SQCh. 10 - Prob. 7SQCh. 10 - Prob. 8SQCh. 10 - Prob. 9SQCh. 10 - Prob. 10SQCh. 10 - Prob. 11SQCh. 10 - Prob. 12SQCh. 10 - Prob. 13SQCh. 10 - Prob. 14SQCh. 10 - Prob. 15SQCh. 10 - Prob. 16SQCh. 10 - Prob. 17SQCh. 10 - Prob. 18SQCh. 10 - Prob. 19SQCh. 10 - Prob. 20SQ
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Similar questions
- Shifts in the Aggregate Supply Curves List and discuss the things that will make the Short Run Aggregate Supply curve shift to the left or to the right. Illustrate. List and discuss the things that will make the Long Run Aggregate Supply curve shift to the left or to the right. Illustrate.arrow_forwardUse the model of aggregate demand and short run aggregate supply to explain how each of the following would affect real gdp and the price level in the short run. A. Reduction in nominal wages B. Major improvement in technology Reduction in net exportarrow_forwardWhich of the following events increases aggregate supply? A. A decrease in potential GDP B. A rise in the price level C. A fall in the money wage rate D. A fall in the price levelarrow_forward
- Using the aggregate demand and aggregate supply model, explain the effects of the following on price and real income 1. Consumers are worried with the country’s economic progress. 2. The Malaysian government has decided to spend on a major revamp of the public transportation system. 3. Malaysian higher education system has produced highly skilled employees Most importantly how do I draw using Aggregate Demand and Supply graph by shifting the effect?arrow_forwardA vertical long-run aggregate supply curve shows that:(a) wages and prices are sticky.(b) changes in technology do not affect the productive capacity of the economy.(c) the availability of resources does not affect the productive capacity of the economy.(d) changes in the price level do not affect the full employment productive capacity of the economyarrow_forwardUsing the aggregate demand and aggregate supply model, explain the effects of the following on price and real income in Malaysia A) The Malaysian government has decided to spend on a major revamp of the public transportation system.arrow_forward
- Of all the influences on production plans, which influences are constant along the aggregate supply curve? A. All influences except the price level B. The price level if it doesn't change C. Only the price level D. All influences including the price levelarrow_forwardIf the short-run aggregate supply shifts left: a) Price level rises and output falls b) Price level falls and output rises c) Price level falls and output falls d) Price level rises and output risesarrow_forwardDraw the aggregate demand, short run aggregate supply and the long run aggregate supply.arrow_forward
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