Exam 32: Aggregate Demand and Aggregate Supply

In an economy, it costs $1,500 to produce 2,000 units of output.If the costs increase to $2,500, then the per unit cost of production will have increased from

The long-run aggregate supply curve is

The slope of the immediate-short-run aggregate supply curve is based on the assumption that

An increase in aggregate expenditures resulting from a decrease in the price level is equivalent to a

Productivity measures

An increase in expected future income will

The labels for the axes of an aggregate supply curve should be

If the price level increases in the United States relative to foreign countries, then American consumers will purchase more foreign goods and fewer U.S.goods.This statement describes

The version of aggregate supply that allows for changes in both product prices and resource prices is the

Suppose that an economy produces 500 units of output.It takes 10 units of labor at $15 a unit and 4 units of capital at $50 a unit to produce this amount of output.The per unit cost of production is

A change in which one of the following factors would shift the aggregate supply curve in the short run?

Other things equal, an improvement in productivity will

If the price of crude oil decreased, then this would most likely

Government actions that were taken in order to stimulate the economy during the Great Recession of 2007-09 included the following, except

An aggregate supply curve represents the relationship between the

In the aggregate demand-aggregate supply model, the economy's price level is assumed to be

Suppose that an economy produces 300 units of output, employing 50 units of input, and the price of the input is $9 per unit.The level of productivity and the per-unit cost of production are

The aggregate demand curve or schedule shows the relationship between the total demand for output and the

Which combination of factors would most likely increase aggregate demand?

Which would most likely increase aggregate supply?