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28 Sep 2019
What will happen to the equilibrium price and real GDP in each of the following cases? You should state whether Aggregate demand, short run Aggregate supply or long run Aggregate supply has shifted and inwhich direction (provide reasons).
1. Wage rate decreas
2. Decrease in Natural rate of unemployment
3. Consumer confidence increase
4. The cost of production increase
4. An increase in potential GDP
What will happen to the equilibrium price and real GDP in each of the following cases? You should state whether Aggregate demand, short run Aggregate supply or long run Aggregate supply has shifted and inwhich direction (provide reasons).
1. Wage rate decreas
2. Decrease in Natural rate of unemployment
3. Consumer confidence increase
4. The cost of production increase
4. An increase in potential GDP
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Jean KeelingLv2
29 Sep 2019