Which one of the following newspaper quotations describes a rightward shift of the LAS curve?
A) "The recent tornadoes destroyed many factories in Calgary and Edmonton."
B) "Growth has been unusually high the last few years due to more women entering the work force."
C) "The decrease in consumer spending may lead to a recession."
D) "Recent higher wage settlements are expected to cause higher inflation this year."
E) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP."
Correct Answer:
Verified
Q2: Everything else remaining the same, the short-
Q3: Suppose there is an increase in the
Q4: The long- run aggregate supply curve is
Q5: An increase in oil prices to a
Q6: The short- run aggregate supply curve is
Q7: Which one, if any, of the following
Q8: The long- run aggregate supply curve is
A)vertical.
B)negatively
Q9: A technological advance shifts the
A)SAS and LAS
Q10: Which one of the following newspaper quotations
Q11: Use the figure below to answer the
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