Which of the following will NOT shift the Long run Aggregate Supply (LAS) curveO an increase in the money wage rate.O a change in the capital stock.O technological progress.O an increase in the stock of human capital.

The Long-Run Aggregate Supply (LAS) curve is a graphical representation in macroeconomics that shows…

Which of the following will NOT shift the Long run Aggregate Supply (LAS) curve an increase in the money wage rate. a change in the capital stock. O technological progress. an increase in the stock of human capital.

Which of the following will NOT shift the Long run Aggregate Supply (LAS) curve an increase in the money wage rate. a change in the capital stock. O technological progress. an increase in the stock of human capital.

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter33: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 4CQQ

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Question

Which of the following will NOT shift the Long run Aggregate Supply (LAS) curve
O an increase in the money wage rate.
O a change in the capital stock.
O technological progress.
O an increase in the stock of human capital.

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The economy has shifted and the quantity of the real GDP supplied has increased. What has potentially happened to aggregate price levels? Potentially the price levels have increased to a higher aggregate price level and if the wages are sticky, businesses have hired more employees as labor has become cheaper. O Potentially the price levels have decreased to a lower aggregate price level and if the wages are sticky, businesses have hired more employees as labor has become cheaper. Potentially the price levels have increased to a higher aggregate price level and if the wages are sticky, businesses have fired some employees as labor has become too expensive.
Moving along the aggregate supply curve, O A. technology advances. B. the quantity of capital used increases. OC. the real wage rate is constant. O D. only the price level changes. O E. the stock of human capital increases.
Potential GDP is the level of aggregate output Select one: a. that can be sustained in the long run without inflation O b. that can be produced if structural unemployment is zero O c. that can be produced at a zero unemployment rate O d. that can be sustained in the long run, if the capacity utilization is below 100%
KE The economy's AS curve will shift downward in the short run if there is: A. an improvement in technology. OB. an increase in the cost of capital. O O C. an increase in the world prices of raw materials. OD. an increase in the wage rate. OE. an increase in the price level.
Output 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. demand
1200 1100 1000 900 800 700- 600 500 Price Level 400 300 200- 100 LRASI LRAS2 100 200 300 400 500 600 700 800 9001000 Real GDP What is a possible cause for the long run aggregate supply to shift from LRAS1 to LRAS2? O A decrease in capital. O A decrease in labor. O An increase in the fertility rate. O A global war.
Consumer Spending increased by 5% last month. Based on this data, which of the following will likely occur in the next 3 -6 months? O GDP will increase O Unemployment will increase O The economy will enter a trough O Stagflation will occur
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If Aggregate Demand is at AD2, production will be high as possible. Can production stay at this level foever? Price Level Price Level GDP POTENTIAL AD₁ GDP POTENTIAL AS GDP MAX AD₁ AS GDP MAX AD2 GDP AD2 GDP Select one: O a. No, because eventually, higher aggregate demand will raise prices, and this will make some people less willing to do additional work Oc. All of these are true Od. Yes, because this is maximum production e. None of these are true O b. No, because eventually higher aggregate demand will cause prices to fall, and this will make producers decide to produce less
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