B LRAS SRAS₁ SRASO SRAS₂ D E AD 33. Y Y In this graph, assume that the economy starts at point A and there is a favorable supply shock that does not last forever. In this situation, point represents short-run equilibrium and point represents long-run equilibrium. A) B; C B) B; A c) E; D D) 34. E; A Assume that the economy is at point B. With no further shocks or policy moves, the economy in the long run will be at point: A) A. B) B. c) C. D) 35. D. Assume that the economy is at point E. With no further shocks or policy moves, the economy in the long run will be at point: A) A. B) B. c) C. D)
B LRAS SRAS₁ SRASO SRAS₂ D E AD 33. Y Y In this graph, assume that the economy starts at point A and there is a favorable supply shock that does not last forever. In this situation, point represents short-run equilibrium and point represents long-run equilibrium. A) B; C B) B; A c) E; D D) 34. E; A Assume that the economy is at point B. With no further shocks or policy moves, the economy in the long run will be at point: A) A. B) B. c) C. D) 35. D. Assume that the economy is at point E. With no further shocks or policy moves, the economy in the long run will be at point: A) A. B) B. c) C. D)
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter24: The Aggregate Demand/aggregate Supply Model
Section: Chapter Questions
Problem 3SCQ: The short run aggregate supply curve was constructed assuming that as the price of outputs...
Related questions
Question
![LRAS
B
A
D
Y
SRAS₁
SRASO
SRAS2
E
AD
Y
33.
In this graph, assume that the economy starts at point A and there is a favorable supply shock
that does not last forever. In this situation, point represents short-run equilibrium and point
represents long-run equilibrium.
A)
B)
C)
D)
BOD
B; C
B; A
E;
D
E; A
34. Assume that the economy is at point B. With no further shocks or policy moves, the economy in
the long run will be at point:
A)
A.
B)
B.
c)
C.
D)
D.
Assume that the economy is at point E. With no further shocks or policy moves, the economy in
the long run will be at point:
35.
A)
A.
B)
B.
c)
C.
D)
D.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc9f38f6e-8c63-4575-9b8a-5d29250da08a%2F8a3e587a-fd03-4b00-b473-6f64cd1cf3e3%2Fi3xmako_processed.jpeg&w=3840&q=75)
Transcribed Image Text:LRAS
B
A
D
Y
SRAS₁
SRASO
SRAS2
E
AD
Y
33.
In this graph, assume that the economy starts at point A and there is a favorable supply shock
that does not last forever. In this situation, point represents short-run equilibrium and point
represents long-run equilibrium.
A)
B)
C)
D)
BOD
B; C
B; A
E;
D
E; A
34. Assume that the economy is at point B. With no further shocks or policy moves, the economy in
the long run will be at point:
A)
A.
B)
B.
c)
C.
D)
D.
Assume that the economy is at point E. With no further shocks or policy moves, the economy in
the long run will be at point:
35.
A)
A.
B)
B.
c)
C.
D)
D.
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