11.Whichofthefollowingshiftslong-runaggregatesupplyright?
a.anincreaseineithertechnologyorthehumancapitalstock.
b.anincreaseinhumancapitalbutnottechnology.
c.anincreaseintechnology,butnotthehumancapitalstock.
d.neitheranincreaseintechnologynorthehumancapitalstock.
12.Thediscoveryofalargeamountofpreviously-undiscoveredoilintheU.S.wouldshift
a.thelong-runaggregate-supplycurvetotheright.
b.thelong-runaggregate-supplycurvetotheleft.
c.theaggregate-demandcurvetotheleft.
d.Noneoftheaboveiscorrect.
13.Thelong-runaggregatesupplycurvewouldshiftrightifthegovernmentwereto
a.reducetheminimum-wage.
b.makeunemploymentbenefitsmoregenerous.
c.raisetaxesoninvestmentspending.
d.Alloftheabovearecorrect.
14.Whichofthefollowingshiftsthelong-runaggregatesupplycurvetotheleft?
a.eitheranincreaseinthepriceofimportednaturalresourcesorareductionintraderestrictions.
b.neitheranincreaseinthepriceofimportednaturalresourcesorareductionintraderestrictions.
c.anincreaseinthepriceofimportednaturalresourcesandanincreaseintraderestrictions.
d.anincreaseintraderestrictionsandadecreaseinthepriceofimportednaturalresources.
15.Somecountrieshavehighminimumwagesandrequirealengthyandcostlyprocesstogetpermissiontoopenabusiness
a.Reducingeithertheminimumwageorthetimeandcosttoopenabusinesswouldhavenoeffectonthelong-runaggregatesupplycurve.
b.Reducingtheminimumwageandthetimeandcosttoopenabusinesswouldbothshiftthelong-runaggregatesupplycurvetotheright.
c.Reducingtheminimumwagewouldshiftlong-runaggregatesupplytotheright.Reducingthetimeandcosttoopenabusinesswouldhavenoaffectonthelong-runaggregatesupplycurve.
d.Reducingtheminimumwagewouldhavenoaffectonthelong-runaggregatesupplycurve.Reducingthetimeandcosttoopenabusinesswouldshiftthelong-runaggregatesupplycurvetotheright.
16.Thelong-runaggregatesupplycurveshiftsrightif
a.technologyimproves.
b.thepriceleveldecreases.
c.themoneysupplyincreases.
d.Alloftheabovearecorrect.
17.Thelong-runaggregatesupplycurveshiftsrightif
a.thepricelevelrises.
b.thepricelevelfalls.
c.thecapitalstockincreases.
d.thecapitalstockdecreases.
18.Whichofthefollowingshiftsthelong-runaggregatesupplycurvetotheright?
a.bothanincreaseinthecapitalstockandtechnologicalimprovements
b.anincreaseinthecapitalstockbutnottechnologicalimprovements
c.anincreaseinthecapitalstockbutnottechnologicalimprovements
d.neitheranincreaseinthecapitalstocknorantechnologicalimprovements
19.Thelong-runaggregatesupplycurveshiftsrightif
a.eitherimmigrationfromabroadincreasesortechnologyimproves.
b.immigrationfromabroadincreases,butnotiftechnologyimproves.
c.technologyimproves,butnotifimmigrationfromabroadincreases.
d.Noneoftheabovearecorrect.
20.Whichofthefollowingwouldshiftthelong-runaggregatesupplycurveright?
a.bothanincreaseinthecapitalstockandanincreaseinthepricelevel
b.anincreaseinthecapitalstock,butnotanincreaseinthepricelevel
c.anincreaseinthemoneysupply,butnotanincreaseinthecapitalstock
d.neitheranincreaseinthemoneysupplynoranincreaseinthecapitalstock
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