This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When the production possibilities curve shifts outward, A) the price level rises in the long run. ... (Read 84 times)

daltonest1984

  • Hero Member
  • *****
  • Posts: 536
on: Jun 30, 2018
When the production possibilities curve shifts outward,
 
  A) the price level rises in the long run.
  B) the long-run aggregate supply curve is unchanged.
  C) the long-run aggregate supply curve shifts to the left.
  D) the long-run aggregate supply curve shifts to the right.

Question 2

The values on the axes of the long-run aggregate supply diagram are
 
  A) real GDP and interest rates. B) real GDP per year and the price level.
  C) nominal GDP and the price level. D) real GDP and nominal GDP.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jennafosdick

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

B


daltonest1984

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jun 30, 2018
Correct answers!


jennafosdick

  • Sr. Member
  • ****
  • Posts: 345
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Bururi long-fingered frog (Cardioglossa cyaneospila) Bururi long-fingered frog (Cardioglossa cyaneospila)
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Muscle structure seen at the EM level Muscle structure seen at the EM level
The level of future emissions is closely linked to the rate of population growth The level of future emissions is closely linked to the rate of population growth
Electricity production accounts for 25% of greenhouse gas emissions Electricity production accounts for 25% of greenhouse gas emissions
Sea-Level Pressure Sea-Level Pressure
Video: Knee Animation

For a complete list of videos, visit our video library