Suppose OPEC members met and decided to their oil production (and thus lower pri

Question

Suppose OPEC members met and decided to their oil production (and thus lower prices) for six months This change writ cause many firms prices in the U.S. to This change in input prices will cause a aggregate supply curve. decrease shift in the short-run decrease, movement along the short-run decrease shift in the long-run increase shift m the short-run increase, movement along the short-run You work for Dr Zhang the autocratic dictator of Zhou land After taking an economics course, you decide that devaluing your currency (Zhoullars) is the way to increase GDP Following your advice Dr Zhang orders massive increases in the supply of Zhoulars, which reduces the value of Zhoullars in world markets Use the AD-AS model and assume me economy was m long-run before this change Remember to consider only the change as ya determine your answers Suppose that over the past 50 years, the nominal and real of a country grew from $100 Suppose that, over the same time, GDP grew from $100 billion to $300 billion Using. we can give an accurate picture of the country and conclude that the country is

Explanation / Answer

Answer 4 :

Oil price decline will lead to fall in the input prices of many firms. This will shift the SRAS curve to right.

Option A.

Answer 5:

Option C.

Answer 6:

Deficit to GDP ratio, better off as thge ratio is declining.

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