04 Jun WHICH OF THE FOLLOWING FACTORS INFLUENCE THE POSITION OF THE LONG-RUN AGGREGATE SUPPLY CURVE?
Question
11)
Which of the following factors influence the position of the long-run aggregate
supply curve?
A)
the supply of money
B)
government spending
C)
taxes
D)
the level of full-employment output
12)
In the long run
A)
price and output levels are mutually dependent.
B)
the level of output depends on the price level.
C)
the level of output is independent of the price level.
D)
the price level depends on the level of output.
13)
Output in the long run is determined by which of the two following factors when
an economy operates at full employment?
A)
capital and supply
B)
imports and exports
C)
capital and labor
D)
the “real” GDP and purchases
14)
The level of output determined by the intersection of the short-run aggregate
supply curve and the aggregate demand curve
A)
is always below full-employment output.
B)
is always above full-employment output.
C)
always corresponds to full-employment output.
D)
may be above, below, or equal to full-employment output.
15)
Output in the short run is determined by which of the following factors when an
economy operates at full employment?
A)
demand
B)
supply
C)
the price level
D)
the labor force
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Figure 14.2
16)
Refer to Figure 14.2. A movement from point a to point c could be
caused by a(n)
A)
increase in government spending.
B)
decrease in the price of oil.
C)
increase in taxes.
D)
increase in short-run aggregate supply.
17)
Refer to Figure 14.2. A movement from point c to point a could be
caused by a(n)
A)
decrease in government spending.
B)
increase in the price of oil.
C)
decrease in taxes.
D)
decrease in short-run aggregate supply.
18)
Refer to Figure 14.2. A movement from point d to point b could be
caused by a(n)
A)
increase in government spending.
B)
increase in the price of oil.
C)
increase in taxes.
D)
decrease in short-run aggregate supply.
19)
Refer to Figure 14.2. A movement from point b to point d could be
caused by a(n)
A)
decrease in government spending.
B)
increase in the price of oil.
C)
decrease in taxes.
D)
increase in short-run aggregate supply.
20)
Refer to Figure 14.2. A movement from point d to point c could be
caused by a(n)
A)
increase in government spending.
B)
increase in the price of oil.
C)
increase in taxes.
D)
increase in short-run aggregate supply.
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