35. Refer to the graph above to answer this question. Which statement is true of

Question

35. Refer to the graph above to answer this question. Which statement is true of the shift from AS1 to AS2? A) It could be the result of technological change. B) It could be caused by a tax cut. C) It moves the economy from one equilibrium to another equilibrium level of real GDP All of the above. D) Which of the following is a reason for the decline in the value of the Canadian dollar for most of the 1990s? A) Higher commodity prices. B) Political stability in Quebec. C) Decrease in foreign investment coming into Canada. D) High level of exports. E) All of the above. 36. 37. Which of the following best describes the federal government's annual budgets for the last eighteen years? A) There were budget surpluses for the first several years, then budget deficits for several more, followed by two years of surpluses. There were budget deficits for the first couple of years, then budget surpluses for several more, followed by several years of deficits. B) C) There were budget deficits for all of the years. D) There were budget surpluses for all of the years. 38. Refer to the figure below to answer this question. According to supply-side economists at what level are present tax rates in Canada? Total tax revenue A) B) At some level like 0a. At some level like Ob. C) D) At some level like 0c. At Od.

Explanation / Answer

35 . All of the above( AS can shift due to technological innovation, tax cut like corporation tax and given aggregate demand shift of AS curve till take us from one equilibrium to another.)

36. A higher commodity prices

37. There were budget surplus for few years then budget defecit for several more followed by two year of surpluses.

38. at some level like ob

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