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Chapter 9 Demand and Supply shifts Flashcards | StudBud
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Chapter 9 Demand and Supply shifts
Chapter 9 Demand and Supply shifts
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StudBud Administration
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Flashcards
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Answers
1
The _____ shows the amount of output that firms are willing to produce at various price levels.
aggregate supply curve
aggregate spending curve
aggregate demand curve
aggregate expenditure curve
2
Decreased interest rates will shift the Agg Demand curve to the ____ and ____ output demanded.
left; increase
left; decrease
right; decrease
right; increase
3
Aggregate supply shifts to the left when
input prices rise
inflation expectations are lower
there is a decrease in regulations
subsidies are higher
4
Which is a determinant of aggregate supply?
interest rates
productivity
prices of substitutes
consumer spending
5
Which of the following would NOT cause a shift in the aggregate demand curve?
a change in the price level
a change in consumption spending
a change in net exports
a change in investment
6
Ceterus Paribus, when the US aggregate price level rises, US exports _____ and US imports _____
fall; fall
fall; rise
rise; rise
rise; fall
7
The long-run supply curve is
horizontal
vertical
positively sloped
elastic
8
A weaker dollar will shift the U.S. Agg Demand curve to the ____ and _____ output demanded.
left; decrease
left; increase
right; increase
right; decrease
9
______ are components of consumer spending that affect aggregate demand.
Expected rates of return on investment
Government spending programs
Exchange rate changes
Taxes
10
If Europe has a large increase in income, what will happen in the United States?
the aggregate demand curve will shift left in the long run
the aggregate demand curve will not change
the aggregate demand curve will shift to the left
The aggregate demand curve will shift to the right
11
A decrease in regulation would cause aggregate:
supply to shift to the right
demand to shift to the right
supply to shift to the left
demand to shift to the left
12
_______ will most likely increase the economy's long-run aggregate supply.
advances in technology
a low rate of investment
an increase in the expected inflation rate
unfavorable weather in the Corn Belt
13
A(n) ______ in oil prices and a(n) _____ in taxes will shift the SRAS curve to the left.
increase; increase
decrease; decrease
decrease; increase
increase; decrease
14
Decreased taxes will shift the Agg Demand curve to the _____ and ______ output demanded.
left; increase
left; decrease
right; decrease
right; increase
15
Which of the following is NOT a reason the Aggregate Demand curve is negatively sloped?
interest rate effects
wealth effect
tax effect
impact on exports
