An increase in production costs is most likely to shift the: A. short-run aggreg
ID: 1098997 • Letter: A
Question
An increase in production costs is most likely to shift the:
A. short-run aggregate supply curve up (to the left).
B. short-run aggregate supply curve down (to the right).
C. aggregate demand curve to the left.
D. aggregate demand curve to the right.
If the dollar appreciates while foreign income rises:
A. the U.S. AD curve would likely shift to the left.
B. the U.S. AD curve would likely shift to the right.
C. the U.S. AD curve would likely remain unchanged.
D. what happens to the U.S. AD curve is unclear.
The long-run aggregate supply curve shows the output level that an economy can produce when:
A. firms adjust quantity rather than price.
B. capital is fully employed.
C. labor is fully employed.
D. both capital and labor are fully employed.
Which of the following factors will shift the long-run aggregate supply curve?
A. A change in aggregate demand
B. A change in available resources
C. A change in the price level
D. A change in sales or excise taxes
At the intersection of the short-run aggregate supply curve, the aggregate demand curve, and the long-run aggregate supply curve, the economy is in:
A. a short-run equilibrium but not a long-run equilibrium.
B. a long-run equilibrium but not a short-run equilibrium.
C. both a short-run and long-run equilibrium.
D. neither a short-run nor long-run equilibrium.
Explanation / Answer
57.An increase in production costs is most likely to shift the:
A. short-run aggregate supply curve up (to the left).
B. short-run aggregate supply curve down (to the right).
C. aggregate demand curve to the left.
D. aggregate demand curve to the right.
51.If the dollar appreciates while foreign income rises:
A. the U.S. AD curve would likely shift to the left.
B. the U.S. AD curve would likely shift to the right.
C. the U.S. AD curve would likely remain unchanged.
D. what happens to the U.S. AD curve is unclear.
63.The long-run aggregate supply curve shows the output level that an economy can produce when:
A. firms adjust quantity rather than price.
B. capital is fully employed.
C. labor is fully employed.
D. both capital and labor are fully employed.
63.Which of the following factors will shift the long-run aggregate supply curve?
A. A change in aggregate demand
B. A change in available resources
C. A change in the price level
D. A change in sales or excise taxes
63.At the intersection of the short-run aggregate supply curve, the aggregate demand curve, and the long-run aggregate supply curve, the economy is in:
A. a short-run equilibrium but not a long-run equilibrium.
B. a long-run equilibrium but not a short-run equilibrium.
C. both a short-run and long-run equilibrium.
D. neither a short-run nor long-run equilibrium.
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