M6 Practice Quiz ECON 2301

M6 Practice Quiz ECON 2301

12th Grade

22 Qs

quiz-placeholder

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M6 Practice Quiz ECON 2301

M6 Practice Quiz ECON 2301

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Nathan Diaz

Used 6+ times

FREE Resource

22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Phillips Curve is used by Economists for long term period.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a country's economy is near its potential GDP then changes in aggregate demand will change what?

unemployment

output

input

price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a country's economy is far below its potential GDP then changes to aggregate demand will affect what?

unemployment

price

SRAS curve

LRAS curve

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the SRAS curve shifts right this leads to what?

inflation, higher unemployment

deflation, lower unemployment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A closed economy is one that is linked to the outside world through trade and financial transactions

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the AD curve shifts left this leads to what?

higher unemployment; deflation

higher unemployment; inflation

lower unemployment; deflation

lower unemployment; inflation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

AD curve shifts right this leads to what?

higher unemployment; inflation

lower unemployment; inflation

higher unemployment; deflation

lower unemployment; deflation

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