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- Aggregate demand is the demand for the, of a country O a. Gross Domestic Product O b. Employment O C. Price level O d. None е. FirmsA change in which of the following would shift theshort-run aggregate-supply curve but not the longrun aggregate-supply curve?a. the labor forceb. the capital stockc. the state of technologyd. the expected price levelAn expansion ends when the economy O has grown for two quarters in a row. O hits a trough and then enters a recession. O begins to grow following a peak. hits a peak and then enters a recession.
- The unemployment rate is the_____who are unemployed.O. percentage of people in the labor forceO. percentage of people in the countryO. number of people in the labor forceO. percentage of the working-age populationOutput in the short run is determined by which of the following factors when an economy operates at ful! employment? Select one: a. the price level O b. the labor force C supply O d. demandQuestion 29 The AD Curve becausO WILL of triatioIT CC. explains how inflation affects output in the short run Intatoatoo all of the above none of the above a lower spending sponding to amerem goods-mame ing levels of th ampham aggregate competicom Tato
- The economy starts out on the curves AD, and SAS. Some events then occur that generate a cost-push inflation. What might those events have been? Describe their initial effects and explain how a cost-push inflation spiral develops. ~.. Which of the following events might cause a cost-push inflation? OA. a decrease in exports OB. an increase in the money wage rate or an increase in the money prices of raw materials C. an increase in the quantity of money OD. a decrease in government expenditure Starting at point A, the initial effect of a cost-push inflation is a move to point inflation spiral proceeds, it follows the path O A. C; B, H, G, I O B. B; E, G, I O C. C; E, H, I O D. E; I As a cost-push 230 190- 150- 1104 70- Price level (GDP deflator, 2007 = 100) LAS 30+ 13 D G B + E A H C SAS2 SAS₁ F ADO 15 17 19 Real GDP (billions of 2007 dollars) SASO AD₂ AD₁ 21 Q Q1. The short-term aggregate supply curve is the relationship between the amount of real GDP supplied and the general price level in the short term. False True 2. The quantity of labor supplied increases when the real wage increases by: a. the increase in the labor force participation rate and by the population increase b. the increase in hours offered by individuals and the increase in the labor force participation rate c. increasing the labor force participation rate d. the increase in hours offered by peopleAn increase in long-run aggregate supply can be expected to the natural rate of unemployment, have no effect on increase O b. have no effect on: have no effi@t on C. decrease, have no effect on d. increase; have no effect on a. De. decrease, decrease Time left 0:07 34 the price level and
- An increase in long-run aggregate supply can be expected to the natural rate of unemployment. have no effect on; increase O b. have no effect on; have no effect on C. decrease; have no effect on d. increase; have no effect on a. Oe. decrease; decrease Time left 0:07:34 the price level andOil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% sinceJune, after Russian and Saudi Arabian production cuts and rising demand from China. With many industries being heavily reliant on energy and transportation, what type of inflation would this leadto in South Africa?A. Demand-pull inflationB. Cost-push inflationC. StagflationD. HyperinflationIf the economy starts at O and moves to R in the short run, the economy PRICE LEVEL R LRAS O O moves to O in the long run. moves to P in the long run. moves to Q in the long run. a QUANTITY OF OUTPUT O stays at R in the long run. AD₂ SRAS, SRAS, AD