Exam 10: Aggregate Supply and Aggregate Demand

A change in the full-employment quantity of labor ________ the short-run aggregate supply curve and ________ the long-run aggregate supply curve.

The aggregate demand curve shows

A below-full-employment equilibrium

In a short-run macroeconomic equilibrium, potential GDP exceeds real GDP. If aggregate demand does not change, then the

The land of Mordor increases its capital stock. As a result, the long-run aggregate supply curve shifts ________ and so does the ________ curve.

A change in the price level does not shift the aggregate demand curve.

-The data in the above figure indicate that the economy will be in a long-run macroeconomic equilibrium at a price level of

-In the above figure, if the economy is at point A, which of the following is TRUE?

A decrease in foreign incomes

The Keynesian theory of business cycle views volatile expectations of future sales and profits as the main source of economic fluctuations.

Real GDP supplied -The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. In short-run equilibrium, there is ________.

-In the above figure, if aggregate demand does not change, the short-run equilibrium will

In long-run macroeconomic equilibrium

In the short run, an increase in government expenditure on goods and services ________ real GDP and ________ the price level.

The short-run aggregate supply curve is upward sloping because in the short run the

Which of the following issues prominent in the presidential election of 2012 shifts the aggregate demand curve rightward?

Which of the following directly shifts the short-run aggregate supply curve?

The SAS curve shifts if there is a change in

-In the above figure, the short-run equilibrium will eventually adjust to a long-run equilibrium with a

If the aggregate demand curve shifts ________ faster than the long-run aggregate supply curve, then ________ occurs.