Chapter 1. Aggregate Supply and Aggregate Demand
1.1
Econ Tutorial
As you progress through the tutorial, the question sequences will become available. You must complete all the question sequences to receive credit for this tutorial.
Tutorial
Questions
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31
Question
aOcZ03Ibu0pRZrQT3h4cxmQzzIcleL+39LB9yifMcNRRrACn66cEqxe39y+6ddKaTG8lSnAKDsAkAZan7JW+5UjnlxEQxsDCMf42767yz/R0Qvtk2hlbfZQImm0K4kr9DvVrxmRLXttrlWwuhPUIxZl4JeaMVVTiEeJScnk5anPI4zkUSVNrkT52NYvsdHU+XVFP/WziPU9dn2qs+754b1PJP0wFZaFMsWJ7hwaV1onu7vBdoafwEtBY1zmeDwCnHS0zc15jSNoj8EijB5AhuglaU8k64JZh/0lKahM1BxSMeR07kJxATo3HDakcu+NJNHjOkvpvpIvA5dEF8zhgNwHhrynCKZE9a9Xkv9AhgjJTN2X/GzYkh/vYrYydyUnRLP1NTg==2
No, that's not it. An increase in productivity or technological change leads to an increase in profit per unit of output. SRAS shifts to the right.
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Question
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2
No, that's not it. An increase in nominal wages leads to a decrease in profit per unit of output. SRAS shifts to the left.
Great job!
Questions
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Question
kW9G+MT/L7QSd+U5o3Z/h7VmtBoNaxIZoE2hDPqvjv9nwE6RngU/o7CULOSUnjS+zQMyUQK2+FJ/kpLDQJwJRQsnQeMQGnNtxNoJF8VPYfaX8SqRciVvmFM9n0dyJcBPcpkeytxMGGiFM+WSNVMwG7nHNWoCgdyo4TSqn5yKno1WJ+vgCDKUyBFc1asDF+AhVVpSxGuwhR+KcVeakRhQrEtatqNbAcg1TsLH1/RjdoBMIYkQAcwz6P6R/c4m9YVMo9sIytoZ4qRiurkkdMHUlhGxIBbxHj0pfTGs9MheoEPURbHhtUjP00Dzip1YuSOZ7SX0B2KFaIBu3xig79ku6qF/9uSb+X5YOzqeAlS6uOzZ7oyEx9gU4whVG1Db/Y178DDIvMHU+7UVLkU8yyGSqRNXzPKiNFPpxOA/raUG9nOO6SJnLlgPWJBXuSfyxJMOyj6djkV3R6m/h5T/EwYPhRpQGzfvDvjS5qntptxnpN/icz5JH4quZ6Gkce1N4hvwva70JTrc0t7gLhEhnr5gByHmjfLU1yOKnmrEXoGMI+F/ZpkzpEoIAIS7fyLEJAv5fQeKtipLtTDw+oriMxnaehETaWfZlDV2xdCR3w==No, that's not it. LRAS shifts left if there is a decrease in technology, physical capital, human capital, or the labor force.
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2
Question
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No, that's not it. LRAS shifts right if there is an increase in technology, physical capital, human capital, or the labor force.
Great job!
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Questions
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Question
eDp4x+X/o2hcV79F0yUSN+O1JOfqhlmniQZTyqTnxijl/WIa+F0lQkiqDDyH4CsvmhD/TAwDJiOLuxGAS22B8xqC/FyhqPAtXRyajWwFLJfO44NOtlEdRbCP75ri0EtE26cMcJMw+9aOv71No+8ksERXHjAPjVTTOOvSue6TZPI3BQ95In8B0CdZXu1Vp5Ow3fkPDCua67VmIGPHiJ3aPEggCEai+mkS30KRTjPbmN399Cn1Zrf6f7JiJR28RqaGWjMp9vO+tFXvubB1FLkLRL6Qn+ilP2MQi8MzIJ7shS1ud546QAlCUXTIViDeZII2DUoMjQ5yUZ6FdQ3trAsj5Q==No, that's not it. Factors that shift aggregate demand to the left include: #5) Expansionary monetary policy (i.e. decrease in money supply or increase in interest rates).
Great job!
2
Questions
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Question
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No, that's not it. An increase in taxes shifts the AD curve leftward, which will cause a decline in price level and real GDP.
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2
Question
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2
No, that's not it. An increase in costs of production shifts the SRAS curve leftward, which will cause an increase in price level and a decline real GDP.
Great job!
Question
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No, that's not it. An increase in household wealth will shift AD to the right. This pulls the price level up, then as wages adjust upward the cost of production increases, pulling SRAS leftward. We are left at the original real GDP level, but a new higher price.
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