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Author Question: If nominal GDP is less than real GDP, then the GDP deflator will be greater than 100. Indicate ... (Read 30 times)

ereecah

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If nominal GDP is less than real GDP, then the GDP deflator will be greater than 100.
 
  Indicate whether the statement is true or false

Question 2

Explain how each of the following events would affect the long-run aggregate supply curve.
 
  a. A lower price level
  b. A decrease in the labor force
  c. A decrease in the quantity of capital goods
  d. Technological change



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tandmlomax84

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Answer to Question 1

FALSE

Answer to Question 2

a. A lower price level would cause a movement along the long-run aggregate supply curve.
b. A decrease in the labor force would cause the long-run aggregate supply curve to shift to the left.
c. A decrease in the quantity of capital goods would cause the long-run aggregate supply curve to shift to the left.
d. Technological change would cause the long-run aggregate supply curve to shift to the right.




ereecah

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Reply 2 on: Jun 29, 2018
Wow, this really help


connor417

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

 

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