Which of the following statements best describes the aggregate supply curve? A) The aggregate supply curve represents the relationship between the price level and the total output or real GDP in the macroeconomy. B) The aggregate supply curve represents the relationship between the inflation rate and the total output or real GDP in the macroeconomy. C) The aggregate supply curve represents the relationship between the inflation rate and the total demand or real GDP in the macroeconomy. D) The aggregate supply curve represents the relationship between the price level and the potential output or GDP in the macroeconomy.

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?

Aggregate demand and aggregate supply, based on a problem from “Principles of Economics” by N. Gregory Mankiw a) List the components of country’s GDP in an open economy. For each component, provide an example of an event that would cause a shift of the aggregate demand curve to the right.b) What will be the effect of such events on the level of prices and the real outcome in the short run? Provide a graph.c) What will be the effect of such events on the level of prices and the real outcome in the longrun? Update your graph

1) https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/national-income-and-price-determinations/aggregate-demand-ap/v/aggregate-demand 2) https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/national-income-and-price-determinations/aggregate-demand-ap/v/shifts-in-aggregate-demand 3) https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/national-income-and-price-determinations/short-run-aggregate-supply-ap/v/short-run-aggregate-supply 4) https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/national-income-and-price-determinations/long-run-aggregate-supply-ap/v/long-run-aggregate-supply 5) https://www.youtube.com/watch?v=xP4y2m16NH8 please I need a short summaries of these videos.

The following events shift either aggregate demand, aggregate supply, both or neither. Using a diagram, illustrate the effect of the events on the economy. In particular, explain the effect of each event on price level, real GDP and equilibrium in the economy. A) A recent business survey reported that business confidence has declined. B) Government cuts the rate of personal income tax after a pandemic caused an economic slowdown. C) A recent flooding in a small rural region destroyed the potato crop. D) A booming economy in a neighbouring country has drawn many working age people (and their families) to emigrate there in search of jobs and better life.

in economics, what are the following ⦁ the aggregate supply (AS) curve in the immediate short run.    ⦁ the aggregate supply (AS) curve in the short run.    ⦁ the aggregate supply (AS) in the long run.

FILL IN THE BLANKS    Inflation measures the changes in the level of               in the economy. Demand-pull inflation is caused by a                shift in the aggregate demand curve, while cost-push inflation is caused by a              shift of the aggregate supply curve. When the price level is increasing by an extremely high rate, the economy is said to be experiencing                .  Stagflation occurs when the economy is experiencing high inflation, high unemployment, and low                    at the same time. To combat inflation, the government can use contractionary monetary policy which will also lead to                  interest rates. Note, however, that there is a short-run tradeoff between inflation and                 as illustrated by the Philips Curve. Inflation is stable when the unemployment rate is equal to the                     rate of unemployment.

Sally, a resident of Scandia, goes to a salon for a haircut. The haircut, which usually costs $50, now costs $40. Sally is confused and curious to understand why she could get the haircut at a lower price despite the salon not offering any discounts. She also notices that the prices of all goods and services in Scandia have decreased. Which situation is occurring in the economy?Inflation Disinflation Deflation Stagflation

The graph above refers to a significant increase in individual income taxes, taking them to their highest level in 50 years. Which of the following is likely to result? a) macroeconomic supply will decrease in the short run b) the economy will experience lower economic growth c) inflationary pressures will be mild d) cyclical unemployment will decrease

A vertical aggregate supply graph indicates that aggregate demand has no effect on: A) Prices B) Inflation C) Wages D) Quantity of output