Lras

Lras

8th - 12th Grade

12 Qs

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Lras

Lras

Assessment

Quiz

Social Studies

8th - 12th Grade

Hard

Created by

Patricia White

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A strong rise in energy cost is likely to lead to

A rise in real GDP and the price level

A fall in GDP and the price level

A fall in real GDP but a rise in the price level

A rise in real GDP but a fall in the price level

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following equations represents Aggregate Demand

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

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

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

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

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the level of disposable income determines the level of ____________________.

consumption expenditure

private expenditure

government expenditure

net export

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following events shifts the short-run aggregate supply curve to the right?

a decrease in the money supply

a drop in oil prices

an increase in government spending on military equipmentd

an increase in price expectations

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Suppose the economy is initially in long-run equilibrium. Then suppose there is a drought that destroys much of the wheat crop. According to the model of aggregate demand and aggregate supply, what happens to prices and output in the short run?

Prices rise; output falls.

Prices fall; output rises.

Prices rise; output rises.

Prices fall; output falls.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following shows the most appropriate labels for the boxes marked X, Y and Z? 

  X = Expenditure, Y = Banks, Z = Interest Payments

B   X = Expenditure, Y = Banks, Z = Interest Payments

C   X = Investment, Y = Government, Z = Wages

D   X = Spending, Y = Firms, Z = Factors of Production

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are injections into the circular flow of income?

Household spending, wages and rent

Government spending, investment and imports

  Savings, capital and exports

Investment, government spending and exports

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