Rgdp - Study guides, Class notes & Summaries

Which statement below regarding aggregate demand is true? - correct answer It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? - correct answer The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. - correct answer There is no relationship between price level and RGDP. If an excise t...

When will the deadweight loss be created?  When surplus is shifted from consumer to producer  When a binding price constraint is implemented  When the market is clearing  When consumer and producer surplus are maximized CONCEPT Deadweight Loss 16 If a certain brand of furry boots are suddenly all the rage and the market price increases to $500 a pair, but very few people buy them because they are too expensive, which of the following will happen next?  The pric...

Sophia (Macroeconomics) - Unit 2 Milestone questions well solvedWhich statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. 00:48 01:16 Select the statement below that is true of long run aggregate supply curves. There is no relationship bet...

Sophia (Macroeconomics) - Unit 2 Milestone Questions and Answers Already PassedWhich statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price leve...

Sophia (Macroeconomics) - Unit 2 Milestone Questions and Answers Already Passed Which statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Select the statement below that is true of long run aggregate supply curves. There is no relationship between price level an...

Macroeconomics Questions and Answers Rated A+ What economic rule is generally used in the decision of a regulator to impose a binding price constraint? When the benefit to a specific group of people is greater than deadweight loss If the short run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the LRAS curve, which statement below is true? Producers are using inventory faster than it can be replaced. If a company was forced to adhere to minim...

Sophia Marcoeconomics Milestone 2 1 Select the TRUE statement below regarding aggregate supply in the short and long run. In the long run, there are no limits on production. The relationship between price level and RGDP is negative in the short run. The LRAS curve can move over time. In the long run, there is a close relat

Sophia (Macroeconomics) - Unit 2 Practice Milestone Already Passed If the price of gold is rising, which of the following can we also expect to be true? Quantity demanded for gold will be decreasing. What will finding out that two of her children have severe peanut allergies cause for Jenna's demand for almond butter? The almond butter demand curve will make a shift to the right. Some factors affect production decisions, causing a shift in supply. Other factors create movement along the supp...

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Macroeconomics Exam 1 – Complete Questions & Answers (100% Correct) US annual population growth rate: -ANSWER - n=1% per year in US in the last century US optimal target inflation rate: -ANSWER - p*=1% per year The ranking of the quality of this macroeconomics course: -ANSWER - Ranking=#1 (where #1 is the best of the best) US long-run average annual growth rate in RGDP per capita: -ANSWER - gpc*=g*-p*=3%-1%=2% US long-run average annual real interest rate on low-risk loans: -ANS...