Aggregate Demand & Aggregate Supply Practice

Aggregate Demand & Aggregate Supply Practice

12th Grade

10 Qs

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Aggregate Demand & Aggregate Supply Practice

Aggregate Demand & Aggregate Supply Practice

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Natalie Harmon

Used 61+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What type of shock is being shown in the diagram?

positive demand shock

negative demand shock

positive supply shock

negative supply shock

2.

CATEGORIZE QUESTION

3 mins • 1 pt

Organize these shifters under the correct curve.

Groups:

(a) Aggregate Demand Curve

,

(b) Aggregate Supply Curve

Productivity

Net Exports

Inflation Expectations

Government Spending

Consumption

Resource Prices & Availability

Investment

Actions by the Government

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following graphs is an example of negative supply shock?

Media Image
Media Image
Media Image
Media Image

4.

DROPDOWN QUESTION

1 min • 1 pt

Media Image

New AI technology makes manufacturing production more efficient. This would cause the aggregate ​ (a)   curve to shift to the ​ (b)   . At the new equilibrium point, price level ​ (c)   and output ​ (d)   .

supply
right
decreased
increased
demand
left

5.

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.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What will generally happen to the aggregate demand curve when consumer confidence decreases?

The curve shifts to the left

No change in the curve

The curve slopes upward

The curve shifts to the right

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assume AD and AS are at equilibrium. If the aggregate demand curve shifts to the left, what happens to the price level and output to reach a new equilibrium point?

PL increases & rGDP decreases

PL increases & rGDP increases

PL decreases & rGDP decreases

PL decreases & rGDP increases

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