9) Both the long run and short run aggregate supply curves will shift when
A) the government increases defense spending.
B) an event occurs which is expected to last only a short period of time.
C) they are both upward sloping.
D) the endowments of the factors of production change.
10) Which of the following would increase aggregate supply?
A) increased training and education B) a reduction in input prices
C) a discovery of new raw materials D) all of the above
11) The discovery of new iron ore fields will cause
A) the long run aggregate supply curve to shift to the right and the short run aggregate
supply curve to shift to the left.
B) the long run aggregate supply curve to shift to the right, but not the short run aggregate
supply.
C) the short run aggregate supply curve to shift to the right, but not the long run aggregate
supply curve.
D)
oth the long run and the short run aggregate supply curves to shift to the right.
12) A major hurricane causes production problems in Gulf Coast region of the United States. This
would cause
A) the short run aggregate supply curve to shift to the left, but there would be no effect on
the long run aggregate supply curve.
B) the short run aggregate supply curve to shift to the left, and the long run aggregate
supply curve would shift to the right.
C)
oth the short run and the long run aggregate supply curves to shift to the right in equal
amounts.
D)
oth the short run and the long run aggregate supply curves to shift to the left, but the
long run aggregate supply curve would shift more than the short run curve.