Which of the following can create demand-pull inflation? O Excessive aggregate spending O supply disruptions caused by global pandemics and regional wars O Sharply rising oil prices O Higher labor costs O Recessions and depressions

Refer to the information provided in the figure at right to answer the question that follows. The level of aggregate output that can be sustained in the long run without inflation O A. is $400 million. B. is $700 million. O C. is $800 million. O D. cannot be determined from this information because aggregate demand is not given. Price level, P LRAS AS :800 400 700 Aggregate output (income), Y ($ million)

E2

The 2009 GDP totaled 12.8 trillion. There was a -2.4 % change from 2008's GDP of 13.2 trillion. The US experienced an inflation rate of 0%, and the unemployment rate reached 10.5%. Which phase of the business cycle was the US experiencing? Trough O Expansion O Recession O Peak O O O O

Hand written solutions are strictly prohibited

Since 1970, the United States has experienced 5 periods and 2 periods. O stagflationary, deflationary O inflationary; expansionary O recessionary; inflationary O recessionary; expansionary

PRICE LEVEL O a. C to D. Ob. D to C. Oc.B to A Od. A to B. D LRAS O B AD QUANTITY OF OUTPUT SRAS, SRAS AD Refer to Figure 34-2. If the economy is in long-run equilibrium, then an adverse shift in short-run aggregate supply would move the economy from

9

Which of the following is incorrect about the Keynesian model shown below? Price Level P₁ AD₁ E₁ Y₁ Real GDP SRAS AD E₁ Yp

Question Completion Status: ↳ A Moving to another question will save this response. Question 29 If the government decided to go to war on Russia, how would that impact the aggregate model? O a. This would not impact the aggregate model at all. O b. This would increase the price level which would shift the aggregate demand curve downwards. O c. It might shift the aggregate demand curve upward or to the right, and maybe shift the LRAS to the left. O d. It would shift the LRAS to the right. A Moving to another question will save this response. 1 2 # 3 4