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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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Asked 2/17/2013 7:32:21 AM
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Before the Great Depression the popular view of government was: A) laissez-faire, and after the Depression the popular view of government was activist. B) activist, and after the Depression the popular view of government was laissez-faire. C) activist, and after the Depression the popular view of government was still activist. D) laissez-faire, and after the Depression the popular view of government was still laissez-faire.
Weegy: The causes of the Great Depression are a matter of active debate among economists, and are part of the larger debate about economic crises, [ although the popular belief is that the Great Depression was caused by the 1929 crash of the stock market C) activist, and after the Depression the popular view of government was still activist ] (More)
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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
This answer has been added to the Weegy Knowledgebase
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) ...
Weegy: B) actual output exceeds potential output, and we are in an inflationary gap. (More)
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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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