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- Describe how different parts of the economy may have experienced shifts and changes in supply and demand. Provide at least 4 examples.During an economic recession caused by a demand disturbance, use classical economics to describe how prices and wages adjust to help markets return to full-employment levels of operation. prices and wages decrease O prices increase, and wages decrease Oprices decrease, and wages increase O prices and wages increaseSub : EconomicsPls answer very fast.I ll upvote. Thank You
- What are the likely consequences of a government implementing a policy of austerity during a period of economic recession? A. It would stimulate economic growth by increasing consumer confidence. B. It would lead to a decrease in the unemployment rate. C. It would potentially deepen the recession by reducing overall demand. D. It would have no effect on the economy's performance.Pick 1 answer. 4. Summarize the Neoclassical model: A. The neoclassical model is built on the importance of aggregate demand as a cause of business cycles and a degree of wage and price rigidity, and thus does a sound job of explaining many recessions and why cyclical unemplovment rises and falls. B. The neoclassical model emphasizes aggregate supply by focusing on the underlying determinants of output and employment in markets, and thus tends to put more emphasis on economic growth and how labor markets work c. The neoclassical model emphasizes aggregate demand by focusing on the underlying determinants of output and employment in markets, but tends to but less emphasis on economic growth and how labor markets work. 9.In the neoclassical model, if there is a sudden rise in the aggregate demand curve, in the short and long run it will cause O inflation. deflation. O an increase in output. A and C
- What is the macroeconomic equilibrium? The macroeconomic equilibrium is real GDP of $ ___ trillion and a price level is ___. SS attached thanksE Which of the following staternents is correct? The aggregate price level is a subject of concerm in microeconomics. a. b. A study of employment in the semiconductor industry would be categorized as a microeconomic study. The C. production and growth of output in the domestic economy is microeconomic concerm. d. Microeconomics is an in-depth study of aggregate economic behavior. Microeconomics includes the study of fiscal and monetary policies, or govermment policies designed to steer the economy in the right direction, е. ces O vi 6:59 9A neoclassical economist and a Keynesian economist are studying the economy of Vineland. It appeals that Vineland is beginning to experience a mild recession with a decrease in aggregate demand. Which of these two economists would likely advocate that the government of Vineland take active measures to reverse this decline in aggregate demand? Why?
- Do neoclassical economists believe in Keynes law or Says law?Legislation proposes that the government should use macroeconomic policy to achieve an unemployment rate of zero percent, by increasing aggregate demand for as much and as long as necessary to accomplish this goal. From a neoclassical perspective, how bill this policy affect output and the price level in the short nm and in the long run? Sketch an aggregate demand/aggregate supply diagram to illustrate your answer. Hint revisit Figure 26.4.What is the role of daynamic in macroeconomic? What are the diffrence between static and daynamic?