Question: please answer Question 11 (1 point) Josephine makes and sells custom-made guitars for $5,000 apiece. The local farmer buys a guitar from Josephine and sells

 please answer Question 11 (1 point) Josephine makes and sells custom-made

please answer

guitars for $5,000 apiece. The local farmer buys a guitar from Josephine

Question 11 (1 point) Josephine makes and sells custom-made guitars for $5,000 apiece. The local farmer buys a guitar from Josephine and sells her hay for Josephine's horse for $4 per bale. Money in this example is being used as a/an medium of exchange store of value commodity money O demand deposit Question 12 (1 point) Starting at "long run equilibrium" what will happen if oil/energy prices significantly decrease in the short run, the AS curve will shift to the right & the economy will produce above its natural level and unemployment will fall; in the long run the AS curve will shift to the left, increasing the "price level" to its original level and returning the economy to its "natural" level of output and employment in the short run, the AS curve will shift to the right & the economy will produce above its natural level and unemployment will fall; in the long run the AS curve will shift to the left, further decreasing the "price level" to its original level and returning the economy to its "natural" level of output and employment in the short run, the AS curve will shift to the left & the economy will produce above its natural level and unemployment will fall; in the long run the AS curve will shift to the right, increasing the "price level" to its original level and returning the economy to its "natural" level of output and employment in the short run, the AS curve will shift to the right & the economy will produce above its natural level and unemployment will rise; in the long run the AS curve will shift to the left, increasing the "price level" to its original level and returning the economy to its "natural" level of output and employment Question 13 (1 point) According to the quantity equation, if P = 3 and Y = 400, which of the following pairs could M and V be? 200, 2 600, 2 100, 3 300, 5

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!