Advanced Placement (AP), 02.11.2020 18:20 lyn36
Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly
labeled diagram must have all axes and curves clearly labeled and must show directional changes. If
the question prompts you to "Calculate," you must show how you arrived at your final answer.
The economy of Country X is at full employment
(a) Draw a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and
aggregate demand curves, and show each of the following
Current price level, labeled
PL
1
PL1
(II) Current real output, labeled
Y
1
Y1
(b) Assume that household income increases as a result of recent economic prosperity in Country X
On your graph in part (a), show the effect of the increase in household income on real output and
price level
(c) What will be the effect of the change identified in part(b) on unemployment in Country X?
Answers: 3
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Josef is the first person in his family to graduate from high school. his friends are giving him advice about what he should do after graduation, but he doesn't know if their advice is right for him. what should josef do? a. choose the college his girlfriend will be attending. b. listen to his friends because they are all very smart. c. research his options for education after high school. d. assume he won't get into college and not apply.
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Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly...
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