Period 2 AP Macro Aggregate Demand and Supply

What is on the "Y" axis on an AD/AS Model?

• Real GDP
• ouput
• price level
• price

What is represented on the "X" axis on the AD/AS Model?

• price level
• price
• Real GDP
• Nominial GDP

What is the vertical line called on the AD/AS Model?

• short-run aggregate supply
• aggregate demand
• long run aggregate supply
• r GDP

The economy's long-run aggregate supply curve

• slopes upward and to the right.
• is vertical.
• is horizontal.
• slopes downward and to the right.

Graphically, cost-push inflation is shown as a: 

• leftward shift of the AD curve.
• rightward shift of the AS curve.
• leftward shift of AS curve.
• rightward shift of the AD curve.

What term best describes the total demand for final goods and services at a range of price levels during a stated period of time?

• Aggregate Supply
• Total Supply
• Total Demand
• Aggregate Demand