Suppose people anticipate an increase in the expected price level. Which curve(s) in the aggregate demand and aggregate supply model would be affected, and which way would it (they) shift?
The short-run aggregate-supply curve would shift to the left.
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If regulators disallow price increases requested by a natural monopoly that is currently earning an economic loss, quality of service will
A) increase rapidly. B) likely fall. C) remain unchanged. D) none of the above.
According to the U.S. Bureau of Economic Analysis, by the third quarter of 2014, foreign investors had accumulated ________ of U.S. assets.
a. $30.8 billion b. $30.8 trillion c. $24.6 trillion d. $2.46 trillion
When studying changes in the economy over time, economists want a measure of the total quantity of goods and services the economy is producing that is not affected by changes in the prices of those goods and services. In other words, economists want to study
a. nominal GDP. b. real GDP. c. the GDP deflator. d. GNP.
Jim Brown would like to work, but has not looked for work in the past four weeks because he does not believe any jobs are available. In the official employment statistics, Jim is classified as:
A. out of the labor force. B. underemployed. C. employed. D. unemployed.