Aggregate supply and the equilibrium price level
[DOC File]Aggregate Supply in the Long-Run
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B . decrease the equilibrium output and increase the price level. C . increase the equilibrium output and decrease the price level. D . decrease both the equilibrium output and the price level. Answer : B Refer to Figure 13.7. Suppose the equilibrium output equals $600 billion, a decrease in wages and an increase in government spending will ...
[DOC File]CHAPTER 11: Aggregate Demand and Aggregate Supply …
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The surplus of real output will drive down the price level. Equilibrium occurs at the price level at which AS and AD intersect. (c) See the graph. Increases in consumer, investment, government, or net export spending might shift the AD curve rightward. New equilibrium price level = 250. New equilibrium GDP = …
[DOC File]الصفحات الشخصية
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Equilibrium adjustments in the long run. demand-pull inflation→ increased output→ higher price level→ higher nominal wages → therefore, a shift of aggregate supply to the left (to full employment) cost-push inflation → leftward shift in AS caused by cost changes → Price level increases → dilemma
[DOC File]Chapter 13 Aggregate Demand, Aggregate Supply, and Inflation
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Use the model of aggregate demand and short-run aggregate supply to explain how each of the following would affect real GDP and the price level in the short run. An increase in government purchases Shifts the AD curves to the right causing an increase in real income and the price level …
[DOC File]CHAPTER OVERVIEW - SVSD
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IV. Equilibrium: Real Output and the Price Level. Equilibrium price and quantity are found where the aggregate demand and supply curves intersect. (See Key Graph 11-7a,b for illustration of why quantity will seek equilibrium where curves intersect.) (Key Questions 4 and 7) Try Quick Quiz 11-7.
24.2 Building a Model of Aggregate Demand and Aggregate Supply
The short-run aggregate supply curve slopes upward because, with a given equilibrium wage rate, a higher actual price level will reduce the actual real wage and induce firms to hire more labor. shift the labor supply curve.
[DOC File]Chapter 7 Aggregate Demand, Aggregate Supply, and the Self ...
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Chapter 9 Aggregate Supply and the Equilibrium Price Level. April 2011 Chapter 9 Aggregate Supply and the Equilibrium Price Level. 13.1 The Aggregate Supply Curve. 1) The graph that shows the relationship between the aggregate quantity of output supplied by all the firms in an economy and the overall price level is. A) the aggregate supply curve.
[DOC File]Aggregate Supply and Aggregate Demand and the Self ...
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The surplus of real output will drive down the price level. Equilibrium occurs at the price level at which AS and AD intersect. (c) See the graph. Increases in consumer, investment, government, or net export spending might shift the AD curve rightward. New equilibrium price level = 250. New equilibrium GDP = …
[DOC File]CHAPTER OVERVIEW - Crawford's World
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82) Consider an initial IS-LM equilibrium in which the nominal money supply is 1000 and the price level is 1.0. As the price level falls to 0.5, then to 0.333, and then to 0.25, the effect on real balances means that AD A) becomes flatter. B) shifts upward by less and less. C) shifts downward by less and less.
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