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Author Question: To find an economy's long-run equilibrium price level, locate the point where ________ and ________ ... (Read 35 times)

plus1

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on: Jun 30, 2018
To find an economy's long-run equilibrium price level, locate the point where ________ and ________ cross and look to the left.
 
  A) long-run aggregate supply; aggregate demand B) aggregate demand; short-run aggregate supply
  C) aggregate demand; price level D) demand; supply

Question 2

Assume that the supply curve for a commodity shifts to the right and the demand curve shifts to the left, and the shift in demand is greater than the shift in supply.
 
  Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by:
  A) a lower price and a higher quantity. B) the same price and a lower quantity.
  C) a higher price and a lower quantity. D) a lower price and quantity.


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Mholman93

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


plus1

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

matt95

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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