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1 Which of the following would not cause a shift in long-run aggregate supply ? A) An increase in ag

1 Which of the following would not cause a shift in long-run aggregate supply?

A) An increase in aggregate expenditures

B) A decrease in capital investment

C) A technological advance in the consumer goods market

D) An increase in education for employees

E) An influx of skilled immigrants

 

2 Which of the following will cause an increase in aggregate demand?

A) An increase in imports

B) An increase in exports

C) A decrease in consumer spending

D) A decrease in national income

E) A decrease in business expansion

 

3 If consumer confidence decreases then aggregate demand will

A) Increase and output and price level will increase as well

B) decrease and output and price level will decrease as well

C) increase and output will increase but price level will decrease

D) increase and output will decrease but price level will increase

E) decrease and output will decrease but price level will increase

 

4 If consumers are more optimistic about the future economy, then

A) there is no change in the AD curve as SRAS has decreased

B) AD shifts right and output would increase

C) AD shifts right and output would decrease

D) AD shifts left and output would increase

E) AD shifts left and output would decrease

 

5 If an economy was operating below full employment,

A) the intersection of AD and SRAS would be to the right of LRAS

B) the intersection of AD and SRAS would be to the left of LRAS

C) the intersection of AD and SRAS would be equal to LRAS

D) Congress would use contradictory fiscal policy to shift LRAS into equilibrium

E) Congress would use expansionary fiscal policy to shift LRAS into equilibrium

 

 

 

 

 

Apr 24 2020 View more View Less

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