An increase in the GDP price level will: Multiple Choice O O decrease aggregate demand increase aggregate demand. increase the quantity of real domestic output demanded. decrease the quantity of real domestic output demanded
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- what happen exports when price level increase? Describe in paragraphCalculate total GDP for this economy given the following components of demand. Round your answer to the nearest tenth and enter the value in trillions of dollars. Components of GDP on the Demand Side (in trillions of dollars) Consumption Investment Government spending Exports Imports Provide your answer below: trillion Total GDP 12.9 3.8 4.2 3.0 4.2 ?T/F Real GDP does not affect with the level of price.
- ___ are now the largest single component of the supply side of GDP, representing over half of GDP. Structures Durable goods Services Nondurable goodsPrice Level 160 140 120 100 80 60 40 20 0 Aggregate Supply LRAS 20 40 60 80 100 120 140 160 Real GDP (billions of dollars) a. If the price level rises from 100 to 120, real GDP willIncreases in the price of key resources such as fuel and manpower will create a а. decrease in imports b. supply shock С. taxation problem d. increase in purchasing power
- ggregate demand includes Answer the quantity of goods and services both the government and customers abroad want to buy. the quantity of goods and services neither the government nor customers abroad want to buy. the quantity of goods and service the government wants to buy, but not the quantity of goods and services customers abroad want to buy. the quantity of goods and services customers abroad want to buy, but not the quantity of goods and services the government wants to buy.Aggregate Demand Domestic Demand GDP (MP) Growth %Change Growth % Rates % of Rates % Change of Domestic Demand year Aggregate Demand 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Suppose this table into 3 categories (2008-2013), (2013-2017) & (2017-2021) and Comparative and critical analysis of the three categories based on your understanding.REPLY FAST PLZ 2.2 3.2 0.9 -0.59 1.4 -0.56 3.5 2.88 2.2 0.57 -0.31 3 -0.14 1.5 5.9 0.96 8 4.33 4.68 0.21 3.15 0.606 0.006 0.044 4.71 4.89 0.55 4.5 5.23 0.069 7.08 0.57 7.25 0.39 9.18 0.29 9.2 0.26 8.5 -0.07 8.5 -0.08 10.2 0.2 9.1 0.07 6.6 -0.35 6.4 -0.29 15.6 1.36 15.8 1.47There is significant increase in import prices. What will happen to aggregate demand aggregate supply curves and effects on price levels, output and unemployment
- Assume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on: aggregate demand, aggregate supply, price level, real GDP.(a) A decrease in government expenditure in infrastructure(b) A severe recession occurs in a country which has been a major importer of thenation’s exports.(c) The federal government increases business taxes with diagramte Price Level AS3 AS1 AS2 0 Real Domestic Output, GDP In the diagram, a shift from AS₁ to AS2 might be caused by stricter government regulations. an increase in business taxes. a decrease in the prices of domestic resources. an increase in the prices of imported resources. 3 hA decrease in business taxes will tend to Multiple Choice О Increase aggregate demand but not change aggregate supply. Increase aggregate supply but not change aggregate demand. Increase aggregate supply. decrease aggregate demand. &