Assume That the Long-Run Aggregate Supply Curve Is Vertical at Y

question 87

Essay

Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0. The aggregate demand curve is Y = 2(M/P) and M = 1,500. a. If the economy is initially in long-tun equilibrium, what are the values of $P$ and $Y$ ?
b. What is the velocity of money in this case?
c. Suppose because banks start paying interest on checking accounts, the aggregate demand function shifts to $Y = ( 1.5 ) ( M / P )$ . What are the short-run values of $P$ and $Y$ ?
d. What is the velocity of money in this case?
e. With the new aggregate demand function, once the economy adjusts to long-tun equilibrium, what are $P$ and $Y$ ?
f. What is the velocity now?

Recognize treatments and behavioral strategies for insomnia and other sleep disorders.

Identify characteristics and causes of sleep disorders.

Explain the physiological processes and factors involved in sleep and wakefulness.

Describe sleep behaviors and phenomena, including sleepwalking and REM behavior disorder.

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Definitions:

Living Green

The practice of making lifestyle choices that are environmentally sustainable and reduce harm to the planet.

Formal Social Movement

A large, well-integrated, and established organization with bureaucratic procedures.

National Rifle Association

is an American organization that advocates for gun rights, focusing on the protection of the Second Amendment of the U.S. Constitution.

Gun Control

Legislation and policies designed to regulate the manufacture, sale, transfer, possession, modification, or use of firearms by civilians.