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i. Use two diagrams to explain the effects of the determinants of aggregate
demand on real
ii. Suppose there is an expectation of a rapid general price increase in goods
and services in Australia in January 2021. Examine the effects of the
anticipated general rapid increase in price for goods and services.
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- Specify the supply determinants of real GDP. List the factors of each category and explain in detail.Assume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on:1. aggregate demand, 2. aggregate supply, 3. price level, and 4. real GDP. (a) An increase in government expenditure in infrastructureClick or tap here to enter text.(b) A severe recession occurs in a country, which has been a major importer of thenation’s exports.Click or tap here to enter text.(c) The federal government increases business taxesClick or tap here to enter text.(d) The Central Bank increases the cash interest rateLet's assume that prices substantially increased over the past year. How do you expect this will affect people's buying behavior? Be sure to tie this back to economic concepts discussed in this course. Time Atten 33 M.
- Assume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on: aggregate demand, aggregate supply, price level, real GDP.(a) A decrease in government expenditure in infrastructure(b) A severe recession occurs in a country which has been a major importer of thenation’s exports.(c) The federal government increases business taxes with diagramWhat are the factors other than price that can shift aggregate demand curve interms of investment and consumption? Also explain graphically.The following are variables that may cause shifting of aggregate demand (AD) curve. Discuss the effect of increasing these variables to the aggregate demand. Use graphical approach to demonstrate the effect of increasing of each variable and explain why the AD curve shifted. a) Government expenditure (domestic)
- MC Qu. 67 Refer to the graph shown. A.... Refer to the graph shown. Output Time A trough will be arrived at when the economy moves from point OB to point C A to point B C to point D OB to point DThe following are variables that may cause shifting of aggregate demand (AD) curve. Discuss the effect of increasing these variables to the aggregate demand. Use graphical approach to demonstrate the effect of increasing of each variable and explain why the AD curve shifted. a. Interest rate (domestic) b. Government expenditure (domestic) plzz explain it2. Rahim runs a fruit stand where he sells apples and mangoes. Each applecosts BDT 5.00 per piece and each mango costs BDT 8.00. The demand forapples and bananas are described by the following functions, where P a , andP m denotes the price of apples and bananas.Q m = 300-5P a + 3P mQ a = 3P a – 2.5P mWhat prices of mangos and apples Rahim should set in order to maximize profit?
- Assume an economy operates in the intermediaterange of its aggregate supply curve. State thedirection of shift for the aggregate demandor aggregate supply curve for each of thefollowing changes in conditions. What is theeffect on the price level? On real GDP? Onemployment?a. The price of crude oil rises significantly.b. Spending on national defense doubles.c. The costs of imported goods increase.d. An improvement in technology raises laborproductivity.Create a graph for an aggregate demand curve. Use the variable ‘Price Level’ for the vertical axis and ‘Real GDP’ for the horizontal axis. In your answer, explain why there is an inverse relationship between the price level and real GDP. Use your graph to illustrate your explanations. Also, discuss determinants of Aggregate Demandor factors that shift Aggregate Demand curve.Draw horizontal or downward sloping price-consumption curve and explain in detail with possible example