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

Author Question: To find an economy's long-run equilibrium price level, locate the point where ________ and ________ ... (Read 32 times)

plus1

  • Hero Member
  • *****
  • Posts: 676
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Mholman93

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


plus1

  • Member
  • Posts: 676
Reply 2 on: Jun 30, 2018
Excellent

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

(Left panel) The transition level (TL) for moving out of the parental home for 240 young men and ... (Left panel) The transition level (TL) for moving out of the parental home for 240 young men and ...
How to find the derivatives of trigonometric functions using the chain rule (Part 2) How to find the derivatives of trigonometric functions using the chain rule (Part 2)
How to find the limit of a function using delta and epsilon How to find the limit of a function using delta and epsilon
Major marma point locations. Major marma point locations.
How to use right endpoints to find an expression showing the area of a function How to use right endpoints to find an expression showing the area of a function
Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ... Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ...
Video: Attention Deficit Disorder (ADD)

For a complete list of videos, visit our video library