Exam 10: Aggregate Supply and Aggregate Demand

-In the above figure, point B depicts

The macroeconomic long run is best defined as

-The above figure depicts an economy with a short- run equilibrium

-Using the data in the above table, in the long- run macroeconomic equilibrium, the price level is And the level of real GDP is _ .

Fluctuations in aggregate demand and aggregate supply explain why real GDP fluctuates.

Moving along a short- run aggregate supply curve, resource prices , the money rate wage , and potential GDP _ .

Economic growth

-In the above figure, the short- run aggregate supply curve is SAS₁. If the money wage rate increases, there is

Moving along the short- run aggregate supply curve, _ .

-In the figure above, in the short- run macroeconomic equilibrium,

As world economies start to recover from the 2008 financial crisis and firms expect profits to increase,

-In the above figure, B is the current long- run aggregate supply curve and E is the current short- run aggregate supply curve. Technological advances mean the long- run aggregate supply curve and short- run aggregate supply curve

Which of the following statements regarding aggregate supply are correct?

The AS/AD model studies the relationship between

The short- run aggregate supply curve is upward sloping because

-From the data in the above table, when the economy is at its short- run equilibrium, if aggregate demand does not change, then as time passes the

How do changes in the money wage rate affect the LAS and SAS curves? Explain your answer.

-In the above figure, which part corresponds to a destruction of part of the nation's capital stock?

Which of the following shifts the aggregate demand curve rightward?

One possible result of a decrease in aggregate demand and no change in aggregate supply is