Aggregate demand &  aggregate supply

Aggregate demand & aggregate supply

Assessment

Assessment

Created by

Rene Mena

Specialty

12th Grade

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10 questions

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1.

Multiple Choice

45 sec

1 pt

What does the vertical axis represent on the aggregate demand curve?

Total Input

Total Output

Price Level

Both A&B

2.

Multiple Choice

45 sec

1 pt

Which of the following is not a determinant of aggregate demand ?

Change in Consumer Spending

Change in Political Parties

Change in Government Spending

Change in investment Spending

3.

Multiple Choice

1 min

1 pt

The foreign purchases effect suggests that a decrease in Canada's price level relative to other countries will: 

shift the aggregate demand curve leftward.

shift the aggregate supply curve leftward.

decrease Canada's exports and increase Canada's imports.

increase Canada's exports and decrease Canada's imports.

4.

Multiple Choice

1 min

1 pt

The aggregate supply curve (short-run) slopes upward and to the right because: 

changes in wages and other resource prices completely offset changes in the price level.

the price level is flexible upward but inflexible downward.

supply creates its own demand.

wages and other resource prices adjust only slowly to changes in the price level.

5.

Multiple Choice

1 min

1 pt

Media Image

Refer to the above diagram. If the initial aggregate demand and supply curves are AD0 and AS0, the equilibrium price level and level of real domestic output will be: 

F and C, respectively.

G and B, respectively.

F and A, respectively.

E and B, respectively.

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