Exam 12: Aggregate Demand and Aggregate Supply

An increase in the education level inside a nation would cause the:

In general, changes in the price level will change the:

Higher interest rates make it:

Consumption:

Aggregate supply is the:

A temporary decrease in the price of oil would be considered a:

The phrase "sticky prices" refers to the prices of:

In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:

In the long run, if the prices of goods and services are higher than before the aggregate quantity:

When the U.S. price level decreases relative to the rest of the world:

Because the price level shares a negative relationship with aggregate expenditures on GDP, the aggregate demand curve is:

The aggregate demand curve sloping downward can be explained in part through:

A basic factor of production that is used to produce output is:

If you were told the MPC was = 0.75 and the government engaged in a tax decrease of $400B, then the initial change in GDP would be:

The introduction of the Internet over the last 20 years has caused the:

Economic growth is:

The wealth effect says that if there is an increase in the price level, you will:

Changes in expectations about future price levels:

If the aggregate demand curve shifts to the right in the short run then the long-run equilibrium will be at a:

Higher interest rates caused by an increase in the price level creates: