AP Macro (3.1-3.5) Review
Flashcard
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Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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29 questions
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1.
FLASHCARD QUESTION
Front
Which of the following best describes the aggregate demand curve?
Back
It is a curve that shows the level of spending by consumers, businesses, the government, and the foreign sector at different price levels.
2.
FLASHCARD QUESTION
Front
Which of the following explains the relationship between the price level and real output along the aggregate demand curve? Options: At a lower price level, people need more money to spend and therefore deposit less money in banks, which lowers interest rates and increases real output., At a lower price level, the real value of savings decreases which causes an increase in spending., At a lower price level, domestic goods will become less expensive compared to foreign goods, which causes an increase in spending on domestic goods., At a lower price level, real incomes decrease which causes an increase in spending., At a lower price level, the purchasing power of consumers’ income decreases which causes an increase in spending.
Back
At a lower price level, domestic goods will become less expensive compared to foreign goods, which causes an increase in spending on domestic goods.
3.
FLASHCARD QUESTION
Front
The government of Euroland is considering increasing government spending to avoid a recession. What is the most likely effect on aggregate demand (AD) in Euroland?
Back
There will be a rightward shift in the AD curve.
4.
FLASHCARD QUESTION
Front
An increase in taxes on businesses in the United States will likely have what impact on the short-run aggregate supply(SRAS) curve in the United States?
Back
It will cause the SRAS curve to shift leftward.
5.
FLASHCARD QUESTION
Front
Which of the following is true about the equilibrium real output in the aggregate demand-aggregate supply (AD-AS) model in the short run? Options: Equilibrium real output is always above full employment., Equilibrium real output is always below full employment., Equilibrium real output is always equal to full employment., Equilibrium real output can be above, equal to, or below full employment., Equilibrium real output is always indeterminate.
Back
Equilibrium real output can be above, equal to, or below full employment.
6.
FLASHCARD QUESTION
Front
Assume the economy of Country A is in long-run equilibrium. What will happen in the short run in Country A if one of its major trading partners, Country B, experiences a recession?
Back
Aggregate demand will increase and the price level will increase.
7.
FLASHCARD QUESTION
Front
Which of the following will cause a rightward shift of the short-run aggregate supply curve? Options: An increase in consumption spending, An increase in nominal wages, An increase in income taxes, A decrease in the price level, A decrease in the costs of production
Back
A decrease in the costs of production
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