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ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305659094ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305659094 Exercise 4
AGGREGATE DEMAND AND SUPPLY Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve would shift, and in which direction? What happens to aggregate output and the price level in each case?
a. The price level changes
b. Consumer confidence declines
c. The supply of resources increases
d. The wage rate increases
a. The price level changes
b. Consumer confidence declines
c. The supply of resources increases
d. The wage rate increases
Explanation
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Verified
a. A change in the price level would cau...
ECON MACRO 5th Edition by William McEachern
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