Aggregate Demand & Aggregate Supply Flashcards

1

Where is LRAS on a PPF diagram?

2

What does this describe: when the level of actual GDP is below potential GDP?

3

What shifts both SRAS and LRAS?

4

Which one of these is a factor of production that affect aggregate supply?

5

What will an increase in AD ultimately cause?

6

In the UK, what proportion of AD is (X - M) responsible for?

7

What does this diagram show?

8

Which is the odd one out?

9

What does a supply side shock cause?

10

What is the formula for aggregate demand?

Aggregate Demand & Aggregate Supply