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

Author Question: Does economic growth result from increases in aggregate demand, short-run aggregate supply, or ... (Read 101 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
Does economic growth result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?
 
  What will be an ideal response?

Question 2

Refer to Table 2-12. Does either Guatemala or Honduras have an absolute advantage and if so, in what product?
 
  A) Honduras only has an absolute advantage in producing sailboats.
  B) Guatemala has an absolute advantage in producing both products.
  C) Guatemala only has an absolute advantage in producing canoes.
  D) Honduras only has an absolute advantage in producing canoes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

Economic growth results from increases in long-run aggregate supply. Economic growth occurs because the quantity of labor increases, capital is accumulated and there are technological advances over time. All three of these factors increase potential GDP and shift the LAS curve rightward.

Answer to Question 2

B


mpobi80

  • Member
  • Posts: 519
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Polyps and polyposis. A polyp is a protruding growth from a mucous membrane lining a hollow organ. I Polyps and polyposis. A polyp is a protruding growth from a mucous membrane lining a hollow organ. I
Growth of the body and brain is dramatic over the first 2 years. Growth of the body and brain is dramatic over the first 2 years.
As a result of a hole in the graph, which of the following functions does not have an average ... As a result of a hole in the graph, which of the following functions does not have an average ...
economic question economic question
economic question economic question
Secondary growth Secondary growth
Video: Factors that increase metabolic rate and heat production

For a complete list of videos, visit our video library