Aggregate demand/ Aggregate Supply

Aggregate demand/ Aggregate Supply

12th Grade

10 Qs

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Aggregate demand/ Aggregate Supply

Aggregate demand/ Aggregate Supply

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Morrissa Green

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following equations represents Aggregate Demand

GDP = X + I + C + (Y - Z)

GDP = C + I + G + (X - N)

GDP = C + I + X + (G - T)

GDP = (1/MPS)*G + I + C

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The short-run aggregate supply curve may shift to the right if:

productivity increases

  nominal wages increase.

  personal income taxes decrease.

  commodity prices rise.

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The short run aggregate supply curve will:

shift to the right if commodity prices increase.

  shift to the left if there is an increase in productivity.

shift to the left if nominal wages increase.

  shift to the right if government spending increases.

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Define the short-run aggregate supply curve (SRAS)

The relationship between price level and real GDP in an economy

The relationship between price and quantity in an economy

Not the Long-Run Aggregate Supply Curve

How much we supply before getting feedback

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Why is the slope of the SRAS positively sloped?

Sticky wages and prices

the shadow market gets involved as prices go up

Externalities

greed

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Change in SRAS: OPEC Successfully Increases Oil Prices

Increase

Decrease

No Change

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Why is the slope of the SRAS positively sloped?

Sticky wages and prices

the shadow market gets involved as prices go up

Externalities

greed

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