SOPHIA MACROECONOMICS
MILESTONE 2.
Sophia Marcoeconomics
Milestone 2
1
Select the TRUE statement below regarding aggregate supply in the short and long run.
In the long run, there are no limits on production.
The relationship between price level and RGDP is negative in the short run.
The LRAS curve can move over time.
In the long run, there is a close relationship between price level and RGDP.
CONCEPT
Aggregate Supply
2
Which graph below correctly illustrates a scenario in which the regular price for a set of four tires is $250, but Erin finds a store that has the tires she needs on sale for $175?
CONCEPT Shifts in Demand
MILESTONE 2.
Sophia Marcoeconomics
Milestone 2
1
Select the TRUE statement below regarding aggregate supply in the short and long run.
In the long run, there are no limits on production.
The relationship between price level and RGDP is negative in the short run.
The LRAS curve can move over time.
In the long run, there is a close relationship between price level and RGDP.
CONCEPT
Aggregate Supply
2
Which graph below correctly illustrates a scenario in which the regular price for a set of four tires is $250, but Erin finds a store that has the tires she needs on sale for $175?
CONCEPT Shifts in Demand
