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In late 2004, oil prices increased sharply while the rate of growth in labor productivity declined. The combination of these two factors should: A) shift the short-run aggregate supply curve up (to the left). B) shift the short-run aggregate supply curve down (to the right). C) shift the aggregate demand curve to the right. D) shift the aggregate demand curve to the left.
a. Shift the short-run aggregate supply curve up
Expert answered|Alex S|Points 13|
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Asked 2/17/2013 7:55:22 AM
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If actual output exceeds potential output, then the economy: A) is experiencing an inflationary gap. B) is experiencing a recessionary gap. C) may be in a long-run equilibrium but is not in a short-run equilibrium. D) is in neither a short-run nor long-run equilibrium.
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Education|No Subcategories|Expert Answered
Updated 2/17/2013 9:04:13 AM
2 Answers/Comments

Before the Great Depression the popular view of government was: A) laissez-faire, and after the Depression the popular view of government was activist.




Added 2/17/2013 9:01:05 AM
mnagasekhar: Please provide accurate answer.

Please review Weegy's basic rules

Added 2/17/2013 9:04:13 AM
Which of the following factors will not shift the long-run aggregate supply curve? A) An increase in capital accumulation B) An increase in available resources C) An increase in the price level D) An improvement in production technology
Weegy: C) An increase in the price leve factors will not shift the long-run aggregate supply curve. [smile] (More)
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Asked 2/17/2013 7:50:28 AM
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If potential output exceeds actual output, then the economy: A) is experiencing an inflationary gap. B) is experiencing a recessionary gap. C) may be in a long-run equilibrium, but is not in a short-run equilibrium. D) is in neither a short-run nor long-run equilibrium.
Weegy: If actual output exceeds potential output, then the economy: A) is experiencing an inflationary gap.... User: The short-run aggregate supply curve is most likely to shift down (to the right) if: A) productivity falls. B) wages rise. C) sales taxes increase. D) import prices fall. Weegy: A. Productivity falls. (More)
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Asked 2/17/2013 7:44:00 AM
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If at the intersection of aggregate demand and short-run aggregate supply the level of real GDP is $11.2 trillion, and at the intersection of aggregate demand and long-run aggregate supply the level of real GDP is $10 trillion, then: A) actual output exceeds potential output, and we are in a recessionary gap. B) actual output exceeds potential output, and we are in an inflationary gap. C) potential output exceeds actual output, and we are in an infationary gap D) ...
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Education|No Subcategories|Expert Answered
Updated 2/17/2013 8:24:07 AM
1 Answer/Comment
Alex S, please restate the question as part of your answer and try to provide a source for your answers whenever possible. You can read the Weegy basic rules here:
Added 2/17/2013 8:24:07 AM
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