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AD/AS
AD/AS
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Aggregate Demand & Aggregate Supply
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which of these is
not
a reason the AD curve is sloped?
Foreign purchases effect
interest rate effect
wealth effect
high level of natural resources in australia
2
Which of these is NOT a factor causing shifts in AS?
changes in productivity
Changes in input prices
Australia's large unemployment
changes in the business environment (laws etc)
3
Disposable income in Australia rises dramatically: What shift does it cause on the AD/AS model?
AD left
AD right
AS left
AS right
4
What effect does a shift to the right in AD have on equilibrium price and quantity?
price up quantity up
price down quantity down
price down quantity up
Price up, quantity down
5
What effect does a shift to the left in AS have on the equilibrium level of price/output?
Price down, output down
price down, output up
Price up, Output down
price up, output down
6
An economist suggests a bleak future for the Australian economy: what shift does this cause?
AS left
AD left
AS right
AD right
7
What relationship does the Aggregate supply curve show?
C+I+G+X-M
price level & level of real total output from firms.
General price level on a basket of goods
Price level & the quantity of real GDP demanded
8
What relationship does the Aggregate demand curve show?
C+I+G+X-M
Price level and level of total output
Price Level and quantity of real GDP demanded
The general price level of a basket of goods
9
new machinery enters the toothbrush making industry, halving the production time. What shift?
AD Left
AS right
AD right
AS left
10
Industrial workers strike and then receive large pay rises: what shift in ADAS does this cause?
shift left AD
shift right AS
shift left AS
shift right in AD
