The following events have occurred in the history of the United States: A deep recession hits the world economy. The world oil price rises sharply. S. businesses expect future profits to fall.   Explain for each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them.

An increase in the price of an imported resource will cause, Group of answer choices: The aggregate supply curve to remain the same. The Aggregate supply curve to shift to the right The Aggregate supply curve to shift to the left a movement along the Aggregate supply curve The economy to operate in the long-run

What are the major factors causing a shift in aggregate demand (inward or outward)?  What are the major factors that will affect short-run aggregate supply?  Long-run aggregate supply?

In 2004, the economy of Minitown had an aggregate demand and aggregate supply according to the following schedule: PRice level Aggregate Demand Short-run Aggregate supply Long run aggregate supply 100 $1625 $1205 $1370 110 $1550 $1270 $1370 120 $1475 $1335 $1370 130 $1400 $1400 $1370 140 $1325 $1465 $1370 150 $1250 $1530 $1370 160 $1175 $1595 $1370 What was Minitown’s short-run equilibrium output in 2004?

Which combination of factors would most likely increase aggregate demand? Pick your answer from below and explain your answer choice using aggregate demand and aggregate supply.   An increase in household indebtedness and a decrease in net exports. An increase in consumer wealth and a decrease in interest rates. An increase in net exports and a decrease in government spending. An increase in business taxes and a decrease in profit expectations.

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

Suppose our economy is in macroeconomic equilibrium (also called "general equilibrium") with an upward-sloping aggregate supply curve and a downward-sloping aggregate demand curve.  An increase in aggregate demand will:   Question 5 options:   a)  Increase aggregate supply.   b)  Decrease the price level.   c)  Causes the aggregate supply to shift to the right.   d)  Increase real GDP.   e)  Reduce the number of discouraged workers in the unemployment rate.

The figure given below represents the long-run equilibrium in the aggregate demand and aggregate supply model. Suppose that the economy is initially at equilibrium point D in the accompanying figure. Figure 16 Refer to Figure 16. Suppose major oil-exporting countries increase oil output, thus decreasing the price of oil. In the figure this would be represented by: a movement from A to C. a movement from D to C. a movement from A to B. a movement from D to B. a movement from B to D.

Question The following events shift either aggregated demand, aggregated supply, both or neither in the UK. Using a diagram, illustrate the effects of the events on the economy. In particular, explain the effect of each event on price level, real GDP, and equilibrium in the economy. D) The government adopts policies that reduce taxes on producers E) The economy in a neighbouring country is booming. Many people (and their families) emigrate there in search of jobs and a better life.

1) Define aggregate demand and aggregate supply. 2) Give three reasons why the aggregate demand curve slopes downward. 3) Give three reasons why the aggregate supply curve slopes upwards.