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Aggregate Demand-Aggregate Supply Flashcards | StudBud
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Aggregate Demand-Aggregate Supply
Aggregate Demand-Aggregate Supply
10 terms
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StudBud Administration
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7,982 plays
#AGGREGATE DEMAND#MACROECONOMICS
Flashcards
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Questions
10
Answers
1
According to the AD curve, when the aggregate price level __, quantity of aggregate output __
rises; supplied falls
rises; demanded falls
falls; demanded falls
rises; demanded does not change
2
Aggregate demand will shift to the RIGHT if:
the aggregate price level increases.
taxes go up.
government purchases increase.
the money supply shrinks.
3
The AS curve shows the relationship between the aggregate price level and the aggregate:
output supplied.
employment.
unemployment rate.
money supply.
4
The long-run aggregate supply curve is:
upward sloping.
horizontal.
vertical.
downward sloping.
5
Reducing taxes in response to a recession is an example of _____ policy.
consumption
investment
monetary
fiscal
6
Stagflation is a combination of _____ unemployment and _____ inflation.
decreasing; increasing
increasing; increasing
increasing; decreasing
decreasing; decreasing
7
A decrease in aggregate demand is seen as a(n) _____ the aggregate demand curve.
upward movement along
shift to the right in
downward movement along
shift to the left in
8
The long-run level of output is known as _____ output.
recognized
potential
structural
balanced budget
9
A rise in labor productivity will most likely result in:
an increase in aggregate supply.
a decrease in aggregate demand.
an increase in aggregate demand.
a decrease in aggregate supply.
10
The AS curve shows the relationship between the __and the quantity of aggregate output supplied
price of money
aggregate price level
price of oil
level of employment
