Exam 10: Aggregate Supply and Aggregate Demand

Which of the following changes would NOT shift the aggregate demand curve?

Moving along which curve does the money wage rate and the price level change in the same proportions?

Which of the following statements is TRUE?

An increase in the money wage rate

The quantity of real GDP demanded equals $18.2 trillion when the price level is 90. If the price level rises to 95, the quantity of real GDP demanded equals

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

In recent years, Japan's capital stock has increased by about 6 percent from one year to the next. As a result, we would expect

An aggregate supply curve depicts the relationship between

The SAS curve shifts if there is a change in

In the short run, the equilibrium level of real GDP

What happens if the economy is at its long-run equilibrium and aggregate demand increases?

Aggregate demand increases when

As a result of a tax increase

Along a short-run aggregate supply curve, a decrease in the price level means that

At long-run macroeconomic equilibrium,

-The data in the above table show that when the price level is 120, the economy

In the United States, of the following decades inflation was highest during the

What could Keynes have meant by his now famous statement, "in the long run we are all dead?"

The SAS curve and the LAS curve

-In the above figure, the economy is at point A and the money wage rate rises by 10 percent. If the price level is constant, firms will be willing to supply output equal to