Suppose a country’s population is growing due to immigration. In the long run, output will ________ due to ________. remain unaffected; price adjustment increase; an increase in short-run aggregate supply increase; an increase in long-run aggregate supply increase; an increase in both long-run and short-run aggregate supply increase; an increase in aggregate demand

A rightward shift in the aggregate supply curve with no change in the aggregate demand curve signals an economic expansion. True or False?

Question 27   The slope of a long-run aggregate supply curve is   vertical, because full-employment output depends directly on the price level.   vertical, because full-employment output is independent of the price level.   horizontal, because full-employment output is independent of the price level.   upward sloping, because as the price level rises, firms will increase output.   upward sloping, because rising prices reduce real wealth and spending.     Question 28   Supposed you are offered a job with Amazon upon graduation. Your starting salary will be $70,000 which will put you in the 22% federal income tax bracket. The total amount of income taxes you pay is $11,285.50. Your average tax rate is approximately ______.   25.0%   16.1%   21.3%   13.3%   11.5%             Question 30   The largest portion of the federal budget is…

1)Potential output is the same as long-run aggregate supply. Select one: True False   2)An increase in the price level will cause a decrease in the aggregate amount of output supplied. Select one: True False