Exhibit 14A-5 Macro AD-AS Model
Economic growth is represented in Exhibit 14A-5 by:
A) leftward shift in the long-run aggregate supply curve (LRAS) .
B) inward shift of the production possibilities curve.
C) rightward shift in the long-run aggregate supply curve (LRAS) .
D) movement along the long-run aggregate supply curve (LRAS) .
Correct Answer:
Verified
Q22: Exhibit 14A-1 Aggregate demand and supply model
Q24: Exhibit 14A-1 Aggregate demand and supply model
Q26: Q103: Which of the following causes a leftward Q120: In the short run, a price increase Q121: The position of the long-run aggregate supply Q124: Beginning from full-employment macro equilibrium, increase Q129: Beginning from a position of long-run equilibrium Q131: If both the price level and nominal Q139: A decrease in nominal incomes cause
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