a) What is the AD curve? What is it's slope? Why?
b) What is the SRAS curve? What is it's slope? Why?
c) What is the LRAS curve? What is it's slope? Why?
d) What is the short-run equilibrium in the AD-AS model?
e) What is the long-run equilibrium in the AD-AS model?
f) Assume the economy is initially in a long-run equilibrium.
Describe the movement from a short-run to a long-run equilibrium following an increase in demand (AD shifts to the right).
What is the short-run equilibrium gap called? Why?
Recently Asked Questions
- QUESTION 24 Cultural synergy is the ultimate goal of recognizing and responding to cultural variations. True False QUESTION 25 Women are more likely to
- What is a flexible budget and how does it varied from a fixed budget?
- How can i develop a program in Pytthon that will calculate the weekly average tax withholding for a customer, given the following weekly income guidelines: