In the AD-AS (Aggregate Demand - Aggregate Supply) model, assume the economy is initially at a long-run equilibrium. Suddenly, a major technological breakthrough occurs, leading to higher productivity across industries. Which of the following is the most likely immediate result in the AD-AS model?A.Aggregate demand (AD) shifts to the right.B.Aggregate supply (AS) shifts to the right.C.Aggregate demand (AD) shifts to the left.D.Aggregate supply (AS) shifts to the left.

In the AD-AS model, the leftward shift in the aggregate supply curve may be due to (    ).A.Otherwise unchanged and monetary wage increase.B.All other things being equal, the price of raw materials has risen.C.Other things being equal, labour productivity declines.D.All of the above are possible.

In the AD-AS model, a simultaneous increase in consumer confidence (leading to more consumption) and a technological breakthrough (leading to more productive capabilities) will have which of the following effects on the Aggregate Demand (AD) curve and the Long-Run Aggregate Supply (LRAS) curve?This is a multi answer question. You can select one or more options as the answer.A.AD shifts to the right; LRAS remains unchanged.B.AD shifts to the left; LRAS shifts to the right.C.AD shifts to the right; LRAS shifts to the right.D.AD remains unchanged; LRAS shifts to the left.

In the AD-AS model, which of the following events would most likely shift the Aggregate Demand (AD) curve to the right?A.An increase in consumer confidence. B.A. An increase in taxes. C. B. A decrease in government spending.D.D. An increase in the price level.

In the Aggregate Demand-Aggregate Supply (AD-AS) model, consider an economy that is initially in long-run equilibrium. Which of the following events is most likely to cause both a leftward shift in the AD curve and a leftward shift in the SRAS (Short-Run Aggregate Supply) curve?This is a multi answer question. You can select one or more options as the answer.A.A global technological breakthrough that benefits all industries.B.A sudden and significant increase in global oil prices.C.A decrease in general consumer confidence across the economy.D.A broad reduction in import tariffs by the government.

According to the AD-AS (Aggregate Demand-Aggregate Supply) Model, which of the following statements is true?A.A) An increase in government spending will always result in higher inflation and output in the short run.B.A shift to the left of the short-run aggregate supply curve will lead to higher long-run economic growth.C.An increase in aggregate demand will only affect the price level in the long run, not in the short run.D.A decrease in the money supply will shift the aggregate demand curve to the right.