If long run aggregate supply (LRAS) is vertical, the statements that must be true is: Aggregate demand does not affect the quantity of output.
<h3>What is aggregate supply?</h3>
Aggregate supply can be defined as the amount of goods or product a firm is expected to produce and sell or made available to buyers at a particular period of time.
Hence, assuming aggregate supply is vertical, aggregate demand which is the amount of goods buyers are willing to buy will not not affect the quantity of output or goods produced.
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Answer:
C. to increase aggregate demand.
Explanation:
Aggregate demand describes the total amount of all finished goods and services demanded in a country in a period. Aggregate is a reflection on the purchasing power of consumers in an economy. A decrease in aggregate demand implies the economic power of consumers has decreased. A high inflation rate, low income, or high rate of unemployment can cause the aggregated demand to declines.
Expansionary fiscal policies are government actions of reducing taxes or increasing expenditure on stimulus programs. Reducing taxes increases the disposable income of consumers. It encourages firms to expand their businesses. An increase in disposable means consumers will have more money to spend, which boosts aggregate demand. If the government spends money on stimulus programs such as the construction of roads and public buildings, it creates employment and income for more people.
Complete Question:
Context, content and culture are:
O Important ethical concepts
O Important marketing concepts
O Corporate ethics policy
O Three dimensions of evaluating corporate gifts.
Answer:
Context, content and culture are:
O Three dimensions of evaluating corporate gifts.
Explanation:
Corporate gifts may turn out to be regarded as bribery if they are meant to induce the other party to alter their behaviors. This is why in evaluating corporate gifts, the criteria have always included the context (the circumstances in which the gifts are given), the content (how much is given), and the culture (the accepted general practice in a particular industry, locality, or region). Generally, corporate gifts are given either as means of showing appreciation, creating positive first impression, or returning some favors.
Answer:
The correct answer to the following question is increase in the production of bagel .
Explanation:
Here it is given that milk is an input for cheese , and also cheese and bagel are complementary goods, which means that there is an negative cross elasticity between cheese and bagel. So therefore when there is an decrease in the price of milk, which will also lead to decrease in price of cheese and thus, as per the negative cross elasticity when the price of one good decreases that means the production or output of other will increase and vice versa will also be true, so therefore the production of bagel would also increase.
The law of demand illustrates all quantities of goods that consumers are willing and able to buy at every possible price. (third option)
<h3>What is the law of demand?
</h3>
According to the law of demand, the higher the price, the lower the quantity demanded by consumers and the lower the price, the higher the quantity demanded by consumers. There is an inverse relationship between price and quantity demanded
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