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Economics quiz on aggregate demand and aggregate supply Flashcards | StudBud

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Economics quiz on aggregate demand and aggregate supply

9 terms·StudBud Administration·303 plays

#macroeconomics # demand # supply # graph

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Questions 9

Answers

1
The increase in the full employment level of output is equivalent to the ____ shift of the PPC.
Downward
upward
Inward
outward
2
what is aggregate demand equation?
AD = C + I + G + (X-M)
AD = C + I + G + T + (M-X)
AD = C + I + G + (M-X)
AD = C + I + G + S + (M-X)
3
What is the definition of demand ?
good or service that consumers are willing and able to buy .
NOT SURE
No IDEA
a product that consumer are willing and able to buy .
4
Which of the following is NOT a cause the shift in the LRAS curve to the right?
Prices
Employment
New sources
Technological advances
5
What does R & D stand for?
hahahhaha
Renew and Develop
Research and development
Research
6
The word "aggregate" means.......
Totall
Yeah
Nah
Total
7
What is the definition of Aggregate Supply?
The level of demand for services and goods
The total spending on goods and service in a period of time
The total supply of goods and services at a given price.
The average supply of goods and services in an economy
8
What is aggregate demand ?
The total planned spending on real input
The total planned spending on input
Let me think a bit
Total number of input
9
What relationship does the Aggregate Demand Curve display?
Total price and total output.
Average price and average output.
Average price and real output.
Real price and total output.