Exam 22: Aggregate Demand and Aggregate Supply

When the price level changes, the quantity demanded must change in the opposite direction to maintain the same level of non-inflation-adjusted income. This is called

In the long run, the Phillips curve is

Which of the following will not shift the aggregate demand curve?

In measuring the health of the economy, economists are most interested in which of the following?

Ceteris paribus, increases in corporate tax rates __________ the expected profitability of investment.

Aggregate demand changes in response to which factors of the following factors?

When unemployment is low, wages tend to

The two factors that make up nominal GDP are which of the following?

Changes in the price level necessarily cause the quantity demanded to change in the opposite direction to maintain the level of income. This effect is called which of the following?

Aggregate demand is

In recent years, the foreign sector has been

The curve graphically depicting the relationship between the overall price level and the quantity of real GDP supplied at various price levels, ceteris paribus, is called the

Ceteris paribus, increases in personal income tax rates __________ consumption expenditures.

Ceteris paribus, the relationship between the overall price level and the quantity of real GDP supplied in the short run is which of the following?

An increase in aggregate demand will initially tend to lead firms to

In a long-run equilibrium of aggregate demand and aggregate supply,

Monetary and fiscal policy

A curve showing the direct relationship between the overall price level and the level of real output supplied, ceteris paribus, in response to changes in the demand before full adjustment of relative prices has taken place is called the

Anything that alters the price of outputs relative to the price of inputs

If the input prices are fixed or slow to change, firms respond to higher output prices by offering more for sale in which of the following?