GoConqr has a new look! Let us know what you think.

Sign up free

Quiz

Aggregate supply and demand

Hayley Byrne 9 questions

Take the quiz

Questions in this quiz (9)

  1. 1The aggregate supply curve shows the relationship between
    1. AThe quantity of real GDP supplied and the price level.
    2. BPotential GDP and real GDP.
    3. CThe quantity of real GDP supplied and the interest rate.
    4. DPotential GDP and the aggregate demand curve.
    5. EPotential GDP and the price level.
  2. 2Potential GDP
    1. Amight either increase or decrease as the price level increases, depending on whether aggregate demand increases or decreases.
    2. Bnever changes.
    3. Cis independent of the price level.
    4. Dincreases as the price level increases because firms supply more goods and services.
    5. Edecreases as the price level increases because people demand fewer goods and services.
  3. 3Moving along the AS curve, when the price level increases, the
    1. Areal wage rate rises, and there is a decrease in the quantity of real GDP supplied.
    2. Bnominal wage rate rises, and there is a decrease in the quantity of real GDP supplied.
    3. Creal wage rate falls, and there is an increase in the quantity of real GDP supplied.
    4. Dreal wage rate rises, and there is an increase in the quantity of real GDP supplied.
    5. Enominal wage rate falls, and there is an increase in the quantity of real GDP supplied.
  4. 4If the price level increases from 110.0 to 115.0, the quantity of
    1. Apotential GDP will decrease.
    2. Bpotential GDP will increase.
    3. Creal GDP demanded will increase.
    4. Dreal GDP supplied will decrease.
    5. Ereal GDP supplied will increase.
  5. 5The aggregate demand curve illustrates the relationship between
    1. Athe price level and the potential quantity demanded of real GDP.
    2. Bthe price level and the quantity of goods demanded by households, firms, government and foreigners.
    3. Cthe real wage rate and the hours of labour demanded by firms.
    4. Dthe price level and the potential demand for real GDP.
    5. Ethe price level and the quantity of goods supplied by firms.
  6. 6Which of the following produces a movement along the aggregate demand curve and does not shift the aggregate demand curve?
    1. AA change in expectations about the future
    2. BA change in monetary policy
    3. CA change in the price level
    4. DA change in foreign incomes
    5. EA change in government expenditures on goods and services
  7. 7 If there is an increase in expected future income, then
    1. Athe aggregate demand curve shifts rightward.
    2. Bthere is an upward movement along the aggregate demand curve.
    3. Cthe aggregate demand curve shifts leftward.
    4. Dthere is a downward movement along the aggregate demand curve.
    5. Ethe aggregate demand curve becomes steeper.
  8. 8 If the economy is at macroeconomic equilibrium, then real GDP
    1. Amight be equal to, greater than or less than potential GDP
    2. Bmust be greater than potential GDP.
    3. Cmust equal potential GDP.
    4. Dmust be less than potential GDP.
    5. Ecannot be compared to potential GDP.
  9. 9 If the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP greater than potential GDP, there is
    1. Aa falling price level.
    2. Brising real GDP.
    3. Ca below-full employment equilibrium.
    4. Dan inflationary gap.
    5. Ea recessionary gap.

Information

Description
Economics (ECONOMICS QUIZ) Quiz on Aggregate supply and demand, created by Hayley Byrne on 08/06/2017.
Language
English
Views
1
Rating
No ratings yet
Rate this quiz
Rate this quiz

Feedback

What is it about?

What do you think of the new look?

How do you like it?