Exam 12: Aggregate Demand and Aggregate Supply

Use the following to answer question 167: Figure: Macroeconomics Equilibrium -(Figure: Macroeconomics Equilibrium) Refer to Figure: Macroeconomic Equilibrium. Curve 1 refers to ___, curve 2 refers to _, and curve 3 refers to ___.

(Multiple Choice)

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Question 281

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Suppose that initially the economy is at long-run equilibrium. If the government cuts taxes, _ will shift to the _.

(Multiple Choice)

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Question 282

In the long run, the aggregate price level has no effect on the quantity of aggregate output supplied.

(True/False)

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Question 283

If the economy is in a recessionary gap:

(Multiple Choice)

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Question 284

The short-run aggregate supply curve has a positive slope, showing that increases in the price level will increase the quantity of aggregate output supplied by firms.

(True/False)

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Question 285

When the price level decreases, firms in perfectly competitive markets will:

(Multiple Choice)

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Question 286

The only government policy that has a DIRECT effect on the aggregate demand curve is:

(Multiple Choice)

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Question 287

Use the following to answer questions: Figure: Shifts of the AD-AS Curves -(Figure: Shifts of the AD-AS Curves) Refer to Figure: Shifts of the AD-AS Curves. A decrease in wages in the short run is illustrated by panel:

(Multiple Choice)

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Question 288

Which factor will shift the short-run aggregate supply curve to the RIGHT?

(Multiple Choice)

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Question 289

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Assume that the economy is in long-run equilibrium. If the Federal Reserve lowers the key interest rate:

(Multiple Choice)

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Question 290

Use the following to answer questions: Figure: AD-AS Model II -(Figure: AD-AS Model II) Refer to Figure: AD-AS Model II. If productivity increases, the _ curve will shift to the _.

(Multiple Choice)

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Question 291

If there is an inflationary gap, nominal wages ___, and the _ curve shifts ___ until the economy reaches long-run equilibrium.

(Multiple Choice)

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Question 292

The long run in macroeconomic analysis is a period:

(Multiple Choice)

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Question 293

The dollar amount of the wage paid is called the sticky wage.

(True/False)

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Question 294

In 2011, the Federal Reserve worried about:

(Multiple Choice)

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Question 295

In response to a negative supply shock, the government decreases taxes. The MOST likely result of the government's tax decrease is a(n) _ in unemployment and a(n) _ in the aggregate price level.

(Multiple Choice)

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Question 296

Stagflation is the combination of inflation and rising aggregate output.

(True/False)

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Question 297

Use the following to answer questions: Figure: An Increase in Aggregate Demand -(Figure: An Increase in Aggregate Demand) Refer to Figure: An Increase in Aggregate Demand. Because of the pressures at the short-run equilibrium at Y₂ and P₂:

(Multiple Choice)

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Question 298

The aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied.

(True/False)

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Question 299

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

(Multiple Choice)

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Question 300

Showing 281 - 300 of 308

Use the following to answer question 167: Figure: Macroeconomics Equilibrium -(Figure: Macroeconomics Equilibrium) Refer to Figure: Macroeconomic Equilibrium. Curve 1 refers to ___, curve 2 refers to _, and curve 3 refers to ___.

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Suppose that initially the economy is at long-run equilibrium. If the government cuts taxes, _ will shift to the _.

In the long run, the aggregate price level has no effect on the quantity of aggregate output supplied.

If the economy is in a recessionary gap:

The short-run aggregate supply curve has a positive slope, showing that increases in the price level will increase the quantity of aggregate output supplied by firms.

When the price level decreases, firms in perfectly competitive markets will:

The only government policy that has a DIRECT effect on the aggregate demand curve is:

Use the following to answer questions: Figure: Shifts of the AD-AS Curves -(Figure: Shifts of the AD-AS Curves) Refer to Figure: Shifts of the AD-AS Curves. A decrease in wages in the short run is illustrated by panel:

Which factor will shift the short-run aggregate supply curve to the RIGHT?

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Assume that the economy is in long-run equilibrium. If the Federal Reserve lowers the key interest rate:

Use the following to answer questions: Figure: AD-AS Model II -(Figure: AD-AS Model II) Refer to Figure: AD-AS Model II. If productivity increases, the _ curve will shift to the _.

If there is an inflationary gap, nominal wages ___, and the _ curve shifts ___ until the economy reaches long-run equilibrium.

The long run in macroeconomic analysis is a period:

The dollar amount of the wage paid is called the sticky wage.

In 2011, the Federal Reserve worried about:

In response to a negative supply shock, the government decreases taxes. The MOST likely result of the government's tax decrease is a(n) _ in unemployment and a(n) _ in the aggregate price level.

Stagflation is the combination of inflation and rising aggregate output.

Use the following to answer questions: Figure: An Increase in Aggregate Demand -(Figure: An Increase in Aggregate Demand) Refer to Figure: An Increase in Aggregate Demand. Because of the pressures at the short-run equilibrium at Y₂ and P₂:

The aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied.

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

First Principles

Economic Models: Trade-Offs and Trade

Supply and Demand

Price Controls and Quotas: Meddling With Markets

International Trade

Macroeconomics: the Big Picture

GDP and the CPI: Tracking the Macroeconomy

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial Syst

Income and Expenditure

Fiscal Policy

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Macroeconomics: Events and Ideas

International Macroeconomics

Filters

Exam 12: Aggregate Demand and Aggregate Supply

Use the following to answer question 167: Figure: Macroeconomics Equilibrium -(Figure: Macroeconomics Equilibrium) Refer to Figure: Macroeconomic Equilibrium. Curve 1 refers to _____, curve 2 refers to _____, and curve 3 refers to _____.

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Suppose that initially the economy is at long-run equilibrium. If the government cuts taxes, _____ will shift to the _____.

In the long run, the aggregate price level has no effect on the quantity of aggregate output supplied.

If the economy is in a recessionary gap:

The short-run aggregate supply curve has a positive slope, showing that increases in the price level will increase the quantity of aggregate output supplied by firms.

When the price level decreases, firms in perfectly competitive markets will:

The only government policy that has a DIRECT effect on the aggregate demand curve is:

Use the following to answer questions: Figure: Shifts of the AD-AS Curves -(Figure: Shifts of the AD-AS Curves) Refer to Figure: Shifts of the AD-AS Curves. A decrease in wages in the short run is illustrated by panel:

Which factor will shift the short-run aggregate supply curve to the RIGHT?

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Assume that the economy is in long-run equilibrium. If the Federal Reserve lowers the key interest rate:

Use the following to answer questions: Figure: AD-AS Model II -(Figure: AD-AS Model II) Refer to Figure: AD-AS Model II. If productivity increases, the _____ curve will shift to the _____.

If there is an inflationary gap, nominal wages _____, and the _____ curve shifts _____ until the economy reaches long-run equilibrium.

The long run in macroeconomic analysis is a period:

The dollar amount of the wage paid is called the sticky wage.

In 2011, the Federal Reserve worried about:

In response to a negative supply shock, the government decreases taxes. The MOST likely result of the government's tax decrease is a(n) _____ in unemployment and a(n) _____ in the aggregate price level.

Stagflation is the combination of inflation and rising aggregate output.

Use the following to answer questions: Figure: An Increase in Aggregate Demand -(Figure: An Increase in Aggregate Demand) Refer to Figure: An Increase in Aggregate Demand. Because of the pressures at the short-run equilibrium at Y2 and P2:

The aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied.

In the short run, the equilibrium price level and the equilibrium level of total output are determined by the intersection of:

First Principles

Economic Models: Trade-Offs and Trade

Supply and Demand

Price Controls and Quotas: Meddling With Markets

International Trade

Macroeconomics: the Big Picture

GDP and the CPI: Tracking the Macroeconomy

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial Syst

Income and Expenditure

Fiscal Policy

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Macroeconomics: Events and Ideas

International Macroeconomics

Filters

Use the following to answer question 167: Figure: Macroeconomics Equilibrium -(Figure: Macroeconomics Equilibrium) Refer to Figure: Macroeconomic Equilibrium. Curve 1 refers to ___, curve 2 refers to _, and curve 3 refers to ___.

Use the following to answer questions: Figure: AD-AS -(Figure: AD-AS) Refer to Figure: AD-AS. Suppose that initially the economy is at long-run equilibrium. If the government cuts taxes, _ will shift to the _.

Use the following to answer questions: Figure: AD-AS Model II -(Figure: AD-AS Model II) Refer to Figure: AD-AS Model II. If productivity increases, the _ curve will shift to the _.

If there is an inflationary gap, nominal wages ___, and the _ curve shifts ___ until the economy reaches long-run equilibrium.

In response to a negative supply shock, the government decreases taxes. The MOST likely result of the government's tax decrease is a(n) _ in unemployment and a(n) _ in the aggregate price level.

Use the following to answer questions: Figure: An Increase in Aggregate Demand -(Figure: An Increase in Aggregate Demand) Refer to Figure: An Increase in Aggregate Demand. Because of the pressures at the short-run equilibrium at Y₂ and P₂: