MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Chapter P4, Problem 7KC
To determine
The impact of identifying a new method for obtaining oil from oil fields on AS.
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A vertical long-run aggregate supply curve shows that:(a) wages and prices are sticky.(b) changes in technology do not affect the productive capacity of the economy.(c) the availability of resources does not affect the productive capacity of the economy.(d) changes in the price level do not affect the full employment productive capacity of the economy
Topic: Aggregate Demand
QUESTION 4
(a) Price can affect the aggregate supply curve (AS). Can you identify factors other than price that might affect the AS curve?
(b) Much of the current labor force in Malaysia is from other countries such as Indonesia, Vietnam, India, and Philippines. What is the effect of these foreign workers on our local skills and expertise in respect to the job market?
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- Please help: INCLUDE DIAGRAMS Question: Problem ScenarioCovid-19 global economic pandemic has negatively affected economies as a whole at the global,national and regional levels. The novel effects of the fluidity of Covid-19 appears to continue tohave negative impacts on the macro business model as the global recession seems to be inevitable.You are working as a macroeconomist in economic affairs in your local country, and you are taskedwith analyzing the impact of Post-Covid-19 on the economy and you are required to prepare noteson what specific government policies can be implemented as a stimulus package to jump-start theeconomy savings and investment market. The team meeting will be held in 3 days from the dateof the assignment and because of limitation of time the Chief economist has given you thefollowing guidelines:(a) You are required to identify four (4) key…arrow_forward4) For each outcome below, tell what type of shift must have taken place in either the aggregate demand curve or the long-run aggregate supply curve. (a) In the short run, the price level is unchanged and output rises. (b) In the long run, the price level declines and output is unchanged. (c) In the long run, the price level rises and output decline.arrow_forward[c] In Alpha country, an economist obtains the following data: Year Output (USD million) Price Level Technological Progress 1990 10 100 Beginner 2000 20 120 Intermediate 2010 30 140 Advanced Evaluate the economy's long-run trends in Alpha country! Your response must use AD- AS analysis!arrow_forward
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