From May 2014 to March 2015, the price of oil dropped sharply on world markets. Suppose an economy is in a short-run equilibrium at a point where the aggregate demand and aggregate supply curves intersect What would be the impact on this graph of the sharply dropping oil prices in the world market? O A. It would cause aggregate supply to shift left. O B. It would cause aggregate supply to shift right. O C. It would cause aggregate demand to shift left. O D. It would cause aggregate demand to shift right. The impact of a sharp drop in oil prices in the world market will result in O A. an increase in the aggregate price level and a decrease in real GDP O B. a decrease in the aggregate price level and an increase in real GDP. O C. an increase in both the aggregate price level and real GDP. O D. a decrease in both the aggregate price level and real GDP. Consider that from May 2014 to March 2015, the price of oil dropped sharply in world markets. If the Fed held the money supply constant, you would expect the O A. the effect on the interest rate to be ambiguous O B. interest rate to fall. O C. interest rate to remain unchanged. O D. interest rate to rise. Click to select your answer.

From May 2014 to March 2015, the price of oil dropped sharply on world markets. Suppose an economy is in a short-run equilibrium at a point where the aggregate demand and aggregate supply curves intersect What would be the impact on this graph of the sharply dropping oil prices in the world market? O A. It would cause aggregate supply to shift left. O B. It would cause aggregate supply to shift right. O C. It would cause aggregate demand to shift left. O D. It would cause aggregate demand to shift right. The impact of a sharp drop in oil prices in the world market will result in O A. an increase in the aggregate price level and a decrease in real GDP O B. a decrease in the aggregate price level and an increase in real GDP. O C. an increase in both the aggregate price level and real GDP. O D. a decrease in both the aggregate price level and real GDP. Consider that from May 2014 to March 2015, the price of oil dropped sharply in world markets. If the Fed held the money supply constant, you would expect the O A. the effect on the interest rate to be ambiguous O B. interest rate to fall. O C. interest rate to remain unchanged. O D. interest rate to rise. Click to select your answer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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