Japan's population increased by 3 percent in 2010. As a result,which of the following occurred?
I. an increase in potential GDP
II. a rightward shift in the long-run aggregate supply curve
III. a rightward shift in the short-run aggregate supply curve.
A) I, II and III.
B) III only.
C) I and II only.
D) II and III.
Correct Answer:
Verified
Q2: Suppose disposable income increases from $11 trillion
Q3: At potential GDP
A) there is no unemployment
Q4: The marginal propensity to consume measures
A) the
Q5: The level of potential GDP
A) increases when
Q6: Business cycles result when
A) aggregate demand grows
Q7: If the economy is at the natural
Q8: A recessionary gap occurs when
A) the short-run
Q9: Keynesians and monetarists believe that economic fluctuations
Q10: The Keynesian aggregate expenditure model focuses on
Q11: Suppose that a severe shock that decreases
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