The AD-AS curves may be a little confusing to some student especially when it comes to the effect of changes in the demand or supply a person makes. The quiz below is designed to help you perfect your understanding on the topic. Give it a try and remember to keep studying.
Disposable income.
Wealth.
Saving.
Consumption.
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Real wealth decreases, consumption increases, and aggregate demand increases.
Real wealth decreases, consumption decreases, and aggregate demand decreases.
Real wealth increases, consumption decreases, and aggregate demand decreases.
Real wealth increases, consumption increases, and aggregate demand increases.
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The quantity of labor.
The state of technology.
The quantity of capital.
Price level.
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Monetary policy.
Price level.
Fiscal policy.
Expectations.
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Aggregate demand is vertical.
Price level is fixed.
Real GDP equals potential GDP
Unemployment increases.
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Real GDP exceeds potential GDP.
Nominal GDP exceeds potential GDP.
Potential GDP exceeds real GDP.
Potential GDP exceeds nominal GDP.
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Unemployment rate.
Potential GDP.
Prices of other resources.
Money wage rate.
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Quantity of real GDP supplied increases and there is a rightward shift in the short-run aggregate supply curve.
Quantity of real GDP supplied decreases and there is a leftward shift in the short-run aggregate supply curve.
Quantity of real GDP supplied decreases and there is a movement along the short-run aggregate supply curve.
Quantity of real GDP supplied increases and there is a movement along the short-run aggregate supply curve.
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State of technology
Labor
Capital
Price level
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