Q1) Which of the following would shift the UK aggregate supply curve from left to right? Q2) A perfectively competitive
Posted: Thu May 19, 2022 8:48 am
Q1) Which of the following would shift the UK aggregate
supply curve from left to right?
Q2) A perfectively competitive firm sells its output for
$8. Choose the statement that correctly describes its Marginal
Revenue (MR).
Q3) The annual rate of inflation is defined as:
Q4) Which of the following is not a component of aggregate
demand?
Q5) One inflation-fighting policy is to shift AD to
________ the by _______.
Q6)
When calculating real GDP we must use
the GDP deflator for that year. This allows us
to adjust figures measured in current prices for the rate of
inflation, and show the GDP in terms of the price at a base year.
Assuming that GDP in current prices grows from £120 billion in year
1 to £160 billion in year 2 and that the GDP deflator rises from
100 in year 1 to 130 in year 2, by how much has real GDP grown? ( 5
marks)
supply curve from left to right?
Q2) A perfectively competitive firm sells its output for
$8. Choose the statement that correctly describes its Marginal
Revenue (MR).
Q3) The annual rate of inflation is defined as:
Q4) Which of the following is not a component of aggregate
demand?
Q5) One inflation-fighting policy is to shift AD to
________ the by _______.
Q6)
When calculating real GDP we must use
the GDP deflator for that year. This allows us
to adjust figures measured in current prices for the rate of
inflation, and show the GDP in terms of the price at a base year.
Assuming that GDP in current prices grows from £120 billion in year
1 to £160 billion in year 2 and that the GDP deflator rises from
100 in year 1 to 130 in year 2, by how much has real GDP grown? ( 5
marks)