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ECO 120 Exam 2 Flashcards

Suppose the equilibrium aggregate price level is rising and the equilibrium level of real GDP is rising. Which of the following most likely caused these changes? A) an increase in aggregate supply B) an increase in aggregate demand C) a decrease in aggregate supply D) a decrease in aggregate demand

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AP Macro Unit 3 Review Flashcards

According to the graph above, an increase in aggregate supply will most likely cause income and employment to change in which of the following ways? Suppose that autonomous …

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Macroeconomics Chapter 8 Flashcards

A change in the money supply will change interest rates, which will change consumption and investment, therefore changing aggregate demand Affect on SRAS: An increase in wage rates An increase in wages will shift the short-run aggregate supply curve to the left because the higher wage rates will cause Real GDP to be produced at a higher price ...

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mcq practice 2 Flashcards

Study with Quizlet and memorize flashcards containing terms like Which of the following changes would result in an indeterminate change in the equilibrium price in a perfectly competitive market, Which of the following is accounted for in the calculation of a country's gross domestic product?, The population of Country X is 250,000, and the labor force is 200,000 people. If 175,000 …

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24.3 Shifts in Aggregate Supply – Principles of Economics

How Changes in Input Prices Shift the AS Curve. Higher prices for inputs that are widely used across the entire economy can have a macroeconomic impact on aggregate supply. Examples …

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Chapter 8 quiz Flashcards | Quizlet

A change in the quantity supplied of Real GDP is brought about by a change in the "price level" and is shown as a "movement" along the SRAS curve, while a change in short-run aggregate supply is brought about by a "change in wage rates, the prices of nonlabor inputs, productivity, or supply shocks" and is shown as a "shift" of the SRAS curve.

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AP Econ Midterm Flashcards

A change in which of the following will cause the short-run aggregate supply curve to shift? I. The price level II. Government spending III. ... The short-run aggregate supply curve is likely to shift to the left when there is an increase in.. A) the cost of productive resources ...

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Solved Which would most likely shift the aggregate …

Question: Which would most likely shift the aggregate supply curve? A change in: Multiple Choice prices of imported resources. O excess capacity of capital. consumer expectations.

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Which would most likely shift the aggregate supply curve?

Option A is incorrect because changes in the prices of domestic products are more likely to affect aggregate demand rather than aggregate supply. Option B is incorrect because it will impact aggregate demand, not aggregate supply. Option C is incorrect because changes in the price of a financial asset are related to wealth and not supply.

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Economics Flashcards

Study with Quizlet and memorize flashcards containing terms like A rightward shift in the short-run aggregate supply curve will occur when, An increase in which of the following is most likely to increase long-run economic growth?, Which of the following would …

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AP Macroeconomics practice test review part 1 Flashcards

With an upward-sloping short-run aggregate supply curve, an increase in government expenditure will most likely A) reduce the price level B) Reduce the level of nominal gross domestic product C) Increase real gross domestic product D) Shift the short-run aggregate supply curve to the right E) Shift both the aggregate demand curve and the long ...

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Short-run Aggregate Supply (SRAS)

The Determinants of Short-run Aggregate Supply. Whenever there is a change in the conditions of supply in an economy (e.g. costs of production or productivity changes), there is a shift of the entire SRAS curve. There are multiple factors that can influence the short-run aggregate supply (SRAS). These include: Changes in costs of raw materials ...

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Econ M4 Lesson 5 Flashcards

Assume there is no change in aggregate demand and no change in government policy, a supply shock affecting energy costs in the short run will likely increase unemployment and _____ the …

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22.2: Aggregate Demand and Aggregate Supply: The Long Run …

Figure 22.8 Changes in Short-Run Aggregate Supply A reduction in short-run aggregate supply shifts the curve from SRAS 1 to SRAS 2 in Panel (a). ... (Is the change in demand temporary or permanent?) and try to assess likely reactions by consumers or competing firms in the industry to any price changes they might make (Will consumers be angered ...

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Shifts in Aggregate Supply | Macroeconomics

Shifts in Aggregate Supply. Higher prices for key inputs shifts AS to the left. Conversely, a decline in the price of a key input like oil, represents a positive supply shock shifting the SRAS curve to the right, providing an incentive for more to be produced at every given price level for outputs.

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Aggregate Supply Explained: What It Is and How It Works

Aggregate supply is the total amount of goods and services produced at a specific price point for a particular period. Short-term changes in aggregate supply are impacted most significantly by ...

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econ study Flashcards

Study with Quizlet and memorize flashcards containing terms like In the aggregate demand - aggregate supply model, an increase in the price level will, An increase in aggregate supply will, How will market interest rates and bond prices most likely change if the Federal Reserve decides to make small, one time increases in the money supply? and more.

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MACRO Unit 3 Flashcards

An increase in the short-run aggregate supply and a decrease in the price level. ... According to the graph above, an increase in aggregate supply will most likely cause income and employment to change in which of the following ways? Income- increases, Employment- increase.

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AP Macroeconomics

Study with Quizlet and memorize flashcards containing terms like If aggregate demand is growing faster than long-run aggregate supply, the Federal Reserve is most likely to, Assume that the reserve requirement is 20 percent. If a bank initially has no excess reserves and $10,000 cash is deposited in the bank, the maximum amount by which this bank may increase its loans is, …

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24.3 Shifts in Aggregate Supply

When the aggregate supply curve shifts to the right, then at every price level, producers supply a greater quantity of real GDP. When the AS curve shifts to the left, then at every price level, …

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aggregate demand and supply Flashcards

An increase in aggregate demand is most likely to be caused by a(n) a. increase in real interest rates. b. decrease in government spending. c. decrease in expected returns on investment. ... Which would most likely shift the aggregate supply curve? A change in the prices of a. domestic products. b. foreign products. c. financial assets. d ...

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AP Economics Ch. 26 & 27 Flashcards

Study with Quizlet and memorize flashcards containing terms like Which of the following best describes the short run aggregate supply curve?, A change in which of the following will cause the aggregate demand curve to shift? A. Energy prices. B. Productivity rates. C. Consumer wealth. D. Prices of inputs. E. Prices of consumer goods., The short-run aggregate supply curve will shift …

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ECON202: Macro CH12 Flashcards

A decrease in aggregate supply, with no change in aggregate demand. c. Equal increases in aggregate demand and aggregate supply. d. A decrease in aggregate demand. e. An increase in aggregate demand that exceeds an increase in aggregate supply. a. The price level rises rapidly and there is little change in real output. b.

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Chap 3 Macro Flashcards

Study with Quizlet and memorize flashcards containing terms like If a change in aggregate demand results in a recession, the price level and real output will change in which of the following ways in the short run?, Aggregate demand may be measured by adding...?, According the the graph above, an increase in Aggregate Supply (AS) will most likely cause income and …

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Solved 1a. A change in aggregate supply would be caused by

Which would most likely shift the aggregate supply curve? A change in: Multiple Choice consumer expectations. excess capacity of capital. government. Your solution's ready to go! Our expert …

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macro unit 3 Flashcards

Study with Quizlet and memorize flashcards containing terms like Which of the following would indicate that economic growth has occurred?, According to the graph above, which of the following is true about the long-run equilibrium of the economy depicted?, Recessions will most likely be less severe if tax revenues and transfer payments automatically change in which of …

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Macroeconomics Ch. 12 and 13 Flashcards

Study with Quizlet and memorize flashcards containing terms like the economy's short-run AS curve is line ___, and its long-run AS curve is line ___., At the current price level, producers supply $375 billion of final goods and services while consumers purchase $355 billion of final goods and services. The price level is:, immediate-short-run aggregate supply curve and more.

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Macro Unit 4 AG supply and Demand Flashcards

Study with Quizlet and memorize flashcards containing terms like The aggregate demand curve assumes that A as the price of a good or service increases, nominal wages decrease B as the domestic price level increases, consumers substitute domestic goods for foreign goods C all prices and total consumer incomes are constant D changes in the price level affect real wealth …

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Chapter 12 Aggregate Demand and Supply Flashcards

An aggregate supply curve represents the relationship between the: 3. ... An increase in aggregate demand is most likely to be caused by an increase in: ... Which would be one of the factors that shift the aggregate demand curve? A change …

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AD & AS Application Flashcards

Study with Quizlet and memorize flashcards containing terms like A change in which of the following with cause the short-run aggregate supply curve to shift? 1. The price level 2. Government spending 3. The cost of all inputs (A) 1 only (B) 2 only (C) 3 only (D) 1 and 2 only (E) 1, 2, and 3, An increase in government spending will cause output and the price level to …

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