1、30060010040011050012017) The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. With no changes in aggregate demand or long-run aggregate supply, in long-run macroeconomic equilibrium, the price level will be _ and real GDP will be _.A) 120; $400B) 110; $500C) 90;D)
2、 100; $600Answer: DTopic: Long-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical SkillsPricelevelAggregate demand(trillions of 2005 dollars)Short-run aggregate supplyLong-run aggregate supply1308121091118) The data in the above table indica
3、te that when the price level is 120,A) inventories fall and the price level rises.B) the economy is in a long-run macroeconomic equilibrium.C) inventories rise and the price level falls.D) the unemployment rate is at its equilibrium level. C Short-Run Macroeconomic Equilibrium19) The data in the abo
4、ve table indicate that when the price level is 100, A20) The data in the above table indicate that when the price level is 100,A) firms have unexpectedly low inventories, so prices will rise.B) inventories are at levels planned by firms.C) firms will plan to decrease the level of output.D) firms hav
5、e unexpectedly high inventories, so prices fall.21) The data in the above table indicate that when the price level is 120,C) firms will plan to increase the level of output.22) In the above figure, curve A is the _ curve, curve B is the _ curve, and curve C is the _ curve.A) long-run aggregate suppl
6、y; short-run aggregate supply; aggregate demandB) aggregate demand; long-run aggregate supplyC) short-run aggregate supply; long-run aggregate supply;D) long-run aggregate supply; aggregate demand; short-run aggregate supply23) In the figure above, in the short-run macroeconomic equilibrium,A) there
7、 is no structural unemployment.B) real GDP is greater than potential GDP.C) real GDP equals potential GDP.D) real GDP is less than potential GDP. Recognition24) The above figure depicts an economy with a short-run equilibriumA) at full employment.B) below full employment.C) at higher than full-emplo
8、yment.D) None of the above answers are correct.25) In the above figure, at the price level of 140 and real GDP ofA) $12 trillion, firms will not be able to sell all their output.B) $4 trillion, firms will not be able to sell all their output.C) $4 trillion, consumers will not be able to buy all the
9、goods and services they demand.D) $12 trillion, consumers will not be able to buy all the goods and services they demand.26) Based on the figure above, short-run equilibrium occurs at the price level ofA) 120 and real GDP of $4 trillion.B) 130 and real GDP of $8 trillion.C) 140 and real GDP of $12 trillion.D) 130 and real GDP of $12 trillion. B27) The data in the above figure indicate that the economy will be in a lon
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