Exam 10: Aggregate Supply and Aggregate Demand

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Which of the following shifts the aggregate demand curve leftward?

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A change in results in a movement along the short- run aggregate supply curve but no shift in the short- run aggregate supply curve.

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When the labor market is in equilibrium,

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  -In the figure above, potential GDP equals -In the figure above, potential GDP equals

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The quantity of real GDP demanded equals $12.2 trillion when the GDP deflator is 90. If the GDP deflator rises to 95, the quantity of real GDP demanded equals

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A decrease in the money wage rate

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Last year in the country of Union, the price level increased and real GDP increased. Such an outcome might have occurred because short- run aggregate supply and aggregate demand .

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Economic growth in India has averaged about 8.5 percent in recent years and while inflation averaged almost 9 percent. The AS- AD model shows this process as

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Aggregate demand in India increased in 2008. In addition, real GDP grew strongly and inflation approached 10 percent. The best explanation for this inflation is that

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An economy is at full employment. Which of the following events can create a recessionary gap?

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A short- run macroeconomic equilibrium occurs

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For movements along the long- run aggregate supply curve,

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Which of the following variables does NOT directly influence the supply of real GDP?

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In the macroeconomic short run,

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According to the intertemporal substitution effect, a fall in the price level will

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Starting at full employment, a business cycle can be described by the following sequence: equilibrium, equilibrium, equilibrium.

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The short- run aggregate supply curve

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The short- run aggregate supply curve

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In the macroeconomic long run,

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  -In the above figure, the shift from AD<sub>1 </sub>to AD<sub>2</sub><sub> </sub>might have been the result of -In the above figure, the shift from AD1 to AD2 might have been the result of

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