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Ber [7]
3 years ago
6

Which of the following interactions is consistent with the law of supply?

Advanced Placement (AP)
1 answer:
romanna [79]3 years ago
7 0
Is this a graph question or a multiple choice question? I don't think there's enough information given to help you solve this
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3 years ago
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AP Macro Topic 3.8
KATRIN_1 [288]

This question is based on Fiscal Policy Analysis.

1. The short-run equilibrium price level and output are PL² and Y¹, where Equilibrium Price is PL₂ and Equilibrium Output is Y¹.

<h3>What is Fiscal Policy?</h3>

Fiscal policy is defined as the use of government spending and tax policies to regulate and control the economic situation of a country. The conditions controlled in this case are macro-economic indices such as inflation, unemployment, equilibrium wage levels, etc.

2. If the Short-Run Equilibrium price level falls, the new equilibrium price level will become PL¹. This is because the next lowest price level below PL² is PL¹.

3. If Investment (or spending or demand) is increased in the short run, the equilibrium price level will sit at PL³.

4. After a negative supply shock (that is supplies took a negative turn), the new short-run equilibrium price will be fixed at PL¹ with Y being equal to Y¹.

5. If the real GDP was Y³ the type of Unemployment that could result are:

  • Demand Deficient Unemployment and
  • Voluntary Unemployment.

Demand Deficient Unemployment occurs because the company no longer has sufficient demand for its products to sustain its operations. This leads to the company reducing production as well as its workforce. Notice the huge huge unmet demand as depicted in points PL²Y², PL³Y³, and PL₁Y¹ (See attached image for the shaded region).

Voluntary Unemployment is similar to demand deficient Unemployment. The causes are the same. The difference here is that the employees voluntarily resign because it is no longer financially rewarding. This may be due to huge pay reductions as a result of low demand oversupply.

6. Where the GDP or output was Y², the type of unemployment that would exist is called Natural unemployment. Note that Y² is the equilibrium output point.
Natural unemployment is the difference between those who want to do a job at the present wage rate and those who do not want to due to personal choices or the ability to do so.

7. The long-run equilibrium price (LRAS) where the ages and resources are flexible will be PL¹, PL², PL³, and PL⁴. This is because, in the long run, the economy can create natural levels of employment and potential output at any given price level.

8. Based on the question and the information provided by the graph, the long-run equilibrium output will stand at Y⁴ if government spending increases.

See the link below for more about Fiscal Policy:

brainly.com/question/6583917

8 0
2 years ago
In which region did most conlonists live in towns and cities?
astra-53 [7]
I believe the answer is A or C
4 0
3 years ago
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One benefit of statistics is that it can limit an individuals preception. <br> T or F?
MissTica

Manipulating stats can limit an individuals perception, so true
6 0
3 years ago
Which statement best describes the arrival of P-waves and S-waves recorded at a station located closer to the epicenter of this
masha68 [24]

Answer:

1. The time difference between the arrival of the first P-Wave and S-Wave would be less than 4 minutes.

Explanation:

S waves are slower than P waves, even if emitted at the same time. In this case, we can say that if a station is located close to the earthquake epicenter, the station would receive these waves quickly. The P wave would be received first, since it has a higher speed, the S wave would arrive soon. As you did not provide the times when each wave was emitted, we cannot accurately state the time when each wave would be perceived by the station. However, as the station is close to the earthquake, we can say that the time difference between P and S waves would be seconds, that is, less than 4 minutes.

7 0
3 years ago
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