Answer the following questions on the basis of the three sets of data for the co

Question

Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville? The data in Which set of data illustrates aggregate supply in the short run in North Vaudeville? The data in Which set of data illustrates aggregate supply in the long run in North Vaudeville? The data in Assuming no change in hours of work, if real output per hour of work increases by 30 percent, what will be the levels of real GDP in the right column of C? With a price levels of 110, new output = With a price levels of 100, new output = With a price levels of 95, new output = With a price levels of 90, new output = Does the new data reflect an increase in aggregate supply or does it indicate a decrease in aggregate supply?

Explanation / Answer

Increase in output

280*(1+0.3)=364

255*(1+0.3)=331.5

95*(1+0.3)=123.5

90*(1+0.3)=117

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