The long run aggregate supply curve is Question 5 options: upward sloping. downw

Question

The long run aggregate supply curve is

Question 5 options:

upward sloping.

downward sloping.

vertical.

horizontal.

Which of the following events would cause the aggregate supply curve to shift RIGHT?

Question 3 options:

Florida orange groves suffer a prolonged period of below-freezing temperatures.

Congress raises the minimum wage to $10 per hour.

Increased job opportunities overseas cause many people to leave the country.

A technological improvement raises productivity.

Which one of the following was NOT part of the 2009 Stimulus Program?

Question 14 options:

Green Energy

Social Security tax cut

Clean up of the destruction of the Twin towers

Infrastructure

A decrease in taxes would be __________ , while a decrease in Government spending would be __________.

Question 16 options:

Contractionary fiscal policy; contractionary fiscal policy

Contractionary fiscal policy, expansionary fiscal policy

Expansionary fiscal policy, expansionary fiscal policy

Expansionary fiscal policy, contractionary fiscal policy

upward sloping.

downward sloping.

vertical.

horizontal.

Explanation / Answer

5) The asnwer is C-) vertical.

because The LRAS is vertical because economist it shows the potential output after all economc activites taken place, such as price level, increase or decrease in labor or change in input price.

3) The asnwer is D -) A technological improvement raises productivity.

because when productivity increase, the output is produced at minimum or less cost which encourage producer to increase the supply and thus aggregate supply increase and AS curve shift to the right.

14) The answer is C-) Clean up of the destruction of the Twin towers

16) The answer is D-) Expansionary fiscal policy, contractionary fiscal policy

because lowering tax rates to increase the money supply is expansionary fiscal policy and decrease in government spending lead to decrease in money supply and known as contractionary fiscal policy

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