Aggregated Supply and Aggregated Demand

Question 1

Who created Say's Law?

Accepted Answer

Jean- Baptiste Say

Question 2

The SRAS (Short-run aggregate supply), curve can be divided onto three zones. What are they?

Accepted Answer

Keynesian, Neoclassical, Intermediate Zone

Question 3

Aggregate Demand refers to the amount of total spending on domestics goods and services in an economy.

Accepted Answer

True

Question 4

When the economy is already doing as well as it can and demand keeps growing, it leads to higher prices, or inflation.

Accepted Answer

True

Question 5

When Productivity Growth rises companies can create more with the same resources. What direction does the SRAS curve to?

Accepted Answer

Right

Question 6

What are the two different types of Unemployment?

Accepted Answer

Cyclical and Natural Rate

Question 7

The Monetary Policy: The Federal Reserve holds the keys to the economic engine through interest rates.

Accepted Answer

True

Questions 7