var imagesXXXlarge = ",,,,"; var imagesXXlarge = ",,,"; var imagesXlarge = "krugmanapecon2e_mod40_fig-01,krugmanapecon2e_mod40_fig-06,,,,,,"; var imagesLarge = ",,,,,"; xBookUtils.showAnswers['krugmanapecon2e_mod40_cyu_1a'] = "Long-run economic growth is represented by an outward shift of the production possibilities curve. Short-run fluctuations are represented by a movement from a point below the production possibilities curve toward a point on the production possibilities curve (this shows an economic recovery/expansion) or by a movement to a point farther below the production possibilities curve (this shows a recession/contraction)."; xBookUtils.showAnswers['krugmanapecon2e_mod40_cyu_2a'] = "Long-run economic growth is represented by a rightward shift of the long-run aggregate supply curve. Short-run fluctuations are represented by shifts in aggregate demand or short-run aggregate supply that cause movements of short-run equilibrium output (the level of real GDP at the intersection of short-run aggregate supply and aggregate demand) above or below potential output. "; xBookUtils.showAnswers['krugmanapecon2e_mod40_fr_2_rubric'] = "
Rubric for FRQ 2 (6 points)
1 point: Vertical axis labeled “Aggregate price level” or “ PL ” and horizontal axis labeled “Real GDP”
1 point: Downward-sloping AD and upwardsloping SRAS
1 point: Vertical LRAS to the right of the initial equilibrium of AD and SRAS
1 point: AD shifts rightward.
1 point: 2nd graph with correctly labeled initial equilibrium of AD , SRAS , and LRAS
1 point: Shift of LRAS and SRAS to the right (but it is not necessary to show a new long-run equilibrium of SRAS and AD )
"; xBookUtils.showAnswers['krugmanapecon2e_sect07_fr_1_rubric'] = "Rubric for FRQ (6 points)
1 point: A production possibilities curve graph with “Quantity of capital goods” and “Quantity of consumer goods” labels on the axes
1 point: The PPC is downward-sloping.
1 point: Economic growth is indicated by a rightward shift of the PPC.
1 point: An AS-AD graph with “Aggregate price level” or “PL” on the vertical axis, “Real GDP” on the horizontal axis, a downward-sloping AD curve, and an upward-sloping SRAS curve
1 point: LRAS is vertical and crosses SRAS and AD , where they intersect.
1 point: Economic growth is indicated by a rightward shift of the LRAS curve.
";