Figure 36-6
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In Figure 36-6, which of the following will cause a movement from equilibrium at point D to equilibrium at point B?
A. An appreciation of the dollar
B. A depreciation of the dollar
C. A depreciation of the Japanese yen
D. An increase in the U.S. price level
Answer: B
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Use the following graph to answer the next question.
In the figure, AD1 and AS1 represent the original aggregate supply and demand curves. If Q1 is full-employment output, then the long-run aggregate supply curve is located at output level ________.
A. Q2 B. Q1 C. Q3 D. None of these choices are correct.
In the above table, what is marginal product of labor for the 2nd worker?
A) 20 B) 8 C) 10 D) 12
Accountants calculate __________ differently than do economists: a. Total revenue
b. Total costs. c. Profits. d. Both total costs and profits.
Other things the same, what happens in the long run to the price level and quantity of output after a contraction in aggregate demand?