Question

1. Over short periods of time, the SRAS curve shifts to the left or right mainly as a result of factors that influence firms’_____
a. revenue
b. costs of production
c. international relations

2. The short-run equilibrium national income is the ____of a country
a. Tax
b. Real GDP
c. PPC

3. The economy achieves the equilibrium national income (real GDP) and the equilibrium average price level when ______________
a. AD > SRAS
b. AD = SRAS
c. AD < SRAS

4. At any price level and real GDP other than equilibrium national income (real GDP) and the equilibrium average price level, the economy is in 
a. disequilibrium
b. equlibrium
c. chaos

5. At price level Pl1, there is an excess amount of real GDP supplied, putting a ________pressure on the  price level
a. Upward
b. No
c. Downward

Answer 1

Answer:

b,c,b,d

Explanation:

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