ECON 1010 Study Guide - Pearson Education, Business Cycle, Output Gap
11 Feb 2014
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Which graph illustrates what happens when factor prices decrease: (a, (b, (c, (d, (a) and (b) Parkin/bade, economics: canada in the global environment, 8e: refer to figure 26. 1. 1. Which graph illustrates what happens when factor prices rise: (a, (b, (c, (d, (a) and (b) Topic: aggregate supply: complete the following sentence. Potential gdp: increases as the price level rises, is the level of real gdp when unemployment is zero, increases as the quantity of money in the economy increases, does not vary with the price level, never changes. Topic: aggregate supply: the long-run aggregate supply curve is, vertical, negatively sloped, positively sloped but extremely steep, almost flat, positively sloped at low levels of real gdp and vertical at high levels of real gdp. Topic: aggregate supply: the short-run aggregate supply curve is the relationship between the quantity of real gdp supplied and, the quantity of real gdp demanded, real income, the inflation rate, the real interest rate, the price level.
