ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
15. The ____________________ in an AD/AS diagram is most relevant to Say’s Law.
(A) steep portion of the
(D) flat portion of the AS curve
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- On the graph, label your starting AD line as AD 2019. Draw a new AD line showing the change to AD due to the pandemic. Label your starting SRAS line as SRAS 2019. Draw a new SRAS line showing the change to supply due to the pandemic.Label the new short-run equilibrium RGDP and Price Level. Does output (i.e. RGDP) increase or decrease in your model? Does the price level increase or decrease in your model? According to the AD-AS model when RGDP falls the unemployment rises and vice versa. Does your graph indicate an increase or decrease in the unemployment ratearrow_forwardConsider an AS AD diagram. What would happen in the model if Energy prices increased? Group of answer choices a. AD shifts right and prices increase while real GDP increases b. AS shifts left and prices increase while real GDP decreases c. AS shifts right and prices decrease while real GDP increases d. AD shifts left and prices decreases while real GDP decreasesarrow_forwardSelect all that are correctarrow_forward
- Name and discuss the factors that shift the IS Curve. Give two examples, with the help of a diagram, of IS curve shifting, one to the left and one to the right.arrow_forwardSee Figure 2.2 and examine the model. Unlike other circular flow models, this model is missing another sector/s. what is the missing sector?arrow_forwardName and discuss the factors that shift the IS Curve. Give two examples, with the help of a diagram, of IS curve shifting, one to the left and one to the right.arrow_forward
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