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Aggregate Demand and Supply Flashcards | StudBud
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Aggregate Demand and Supply
Aggregate Demand and Supply
11 terms
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StudBud Administration
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An short quiz on AD and AS and benefits of economic growth.
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
Economic growth creates jobs through....
Creating a greater wealth gaps
Increasing real income
Increasing hiring rates due to the needs for new staff
Creating trading deficits and greater sales conditions
2
Leakages are things that act as a brake. They are represented as...
V + P + O
S + T + M
S + M + O
I + X + C
3
Economic growth may improve non-material living standards through which of the following?
Increase or broadening in life enrichment
Increase in life expectancy
excess income which can be sacrificed
Increased consumption and societal norms
4
One favourable aggregrate supply side could be....
Exploration of mineral resources for use in production
An increase in a certain companies market power
An increase in imports
An increasingly aging population
5
An example of economic infrastructure is....
The department of Workchoices
Eastlink
A hospital
A Centrelink office
6
Flow 1 in the model consists of...
Imports into Australia
labour, capital and natural resources moving to business
Payment of total income to households that sell resources
Leakages out of the financial sector
7
What is not a factor that may increase productive capacity through labour resources?
Increase in natural births
Rise in percentage of adults involved in work
Increase in retirement age
Contstruction of industries in rural areas
8
The level of Private Consumption Spending (C) is not affected by which of the following?
Consumer Confidence
Disposable income of households
Interest Rates
Exchange rate
9
In the formula AD=C+I+G+X-M, C represents...
Private investment
Imports of goods and services
Private consumption spending
Private investment
10
In the five sector flow model, the household sector....
Controls the flow on income
Makes decisions about spending
Supplies resources to the business sector
Makes decisions about investment levels and staffing
11
Aggregrate supply side factors are...
Factors that deal only with households supplying goods.
Factors that affect the total level of spending.
Factors that affects an economies productive potential.
Factors that deal only with businesses supplying goods.
