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AP Macro Unit 3

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12th Grade

Used 662+ times

AP Macro Unit 3
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16 questions

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1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The shifters of aggregate supply are

Inflationary expectations

Change in resource prices

Changes in actions of the government

Changes in productivity

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The long run aggregate supply curve is vertical because...

Price level increases but GDP doesn't

GDP increases but price level doesn't

GDP decreases but price level doesn't

Price level decreases but GDP doesn't

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The long run aggregate supply curve is also known as

The natural rate of unemployment

Full-employment

The natural rate of employment

Cyclical unemployment

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If the price of imported Canadian lumber increases

AS shifts left (decrease)

AS shifts right (increase)

AD shifts left (decrease)

AD shifts right (increase)

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Changes in price level

Shift the AD curve left (decrease)

Shift the AD curve right (increase)

Move along the AD curve

Shift the AS curve right (increase)

Shift the AS curve left (decrease)

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Shifters of aggregate demand include

Change in consumer spending

Change in investment spending

Change in government spending

Change in net exports

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Assume the economy is in long run equilibrium and the government increases spending on healthcare

AD will shift right and an inflationary gap will result

AD will shift left and a recessionary gap will result

AS will shift right and an inflationary gap will result

AS will shift left and a recessionary gap will result

No change will result

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