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AD/AS review for Cram Jam Flashcards | StudBud

Explore/AD/AS review for Cram Jam

The aggregate supply curve will increase or shift to the right if:

Answer the following question regarding real GDP...

AD/AS review for Cram Jam

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Questions 6

Answers

1
Answer the following question regarding real GDP...
Increase the minimum wage
Increase government regulations on businesses
Increase government spending
Decrease income and business taxes
2
The aggregate supply curve will increase or shift to the right if:
Investment spending decreases
Energy prices increase
Productivity levels decrease
Labor costs decrease
3
Which of the following events would most likely increase both the price level and real GDP
A decrease in energy prices
An increase in taxes
An increase in consumer spending
An increase in labor productivity
4
A ban on US steel (embargo) by major steel producing nations would likely result in
Increase price level, decrease real GDP
Increase price level, increase real GDP
Decrease price level, decrease real GDP
Decrease price level, decrease real GDP
5
When aggregate demand exceeds aggregate supply in an economy, the MOST immediate result is
deflation
a federal budget surplus
inflation
increased unemployment
6
Aggregate demand will increase or shift to the right if:
Productivity increases
Energy prices decrease
Taxes increase
Business investment increases