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LQS Aggregate Demand & Supply Flashcards | StudBud

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LQS Aggregate Demand & Supply

10 terms·StudBud Administration·88 plays

#macro #aggregate #demand #supply #thinkTWICE #placate

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Questions 10

Answers

1
Which of the following would not cause an increase in AD?
Increase in exports
Cut in interest rates
Increase in imports
Increase in government spending
2
Which of the following curves represents the PPF of the economy?
Real GDP
Short run aggregate supply
National income
Classical LRAS curve
3
What labels are on the axis for an AD/AS diagram?
Real GDP and Price Level
Quantity and Price
GDP and price level
Real GDP and unemployment
4
Which of the following means 'all else being equal'
Paribus ceteris
Ceteris paribus
Cetarus bus
Cat berries
5
Classical economists argue that an increase in government spending will cause
Real GDP to rise and price levels to rise
Unemployment to rise
Price levels to rise
Real GDP to fall
6
An increase in costs of production due to the depreciation of the pound will cause..
LRAS inward shift
SRAS curve shifts inwards
LRAS outward shift
SRAS curve shifts outwards
7
An increase in interest rates will cause which of the following?
No shift in AS & AD shift inwards
AD shift inwards & LRAS shift outwards
SRAS shift outwards & AD shift inwards
SRAS shift inwards & AD shift inwards
8
An increase in immigration into the UK will cause the LRAS curve to:
Shift inwards
Shift outwards
9
A depreciation of the pound will cause costs of production to ...
Increase for firms who import raw materials
Increase for firms who source all inputs domestically
Decrease for firms who source all inputs domestically
Decrease for firms who import raw materials
10
Which of the following factors will cause SRAS to shift? Hint: Think TWICE
Income
Income tax
Investment
Interest rates