B321 MA02 Recap Quiz

B321 MA02 Recap Quiz

12th Grade

9 Qs

quiz-placeholder

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B321 MA02 Recap Quiz

B321 MA02 Recap Quiz

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

Swee Lyn Danielle Lim

Used 2+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

_________ is the total demand for final goods and services in the economy.

Aggregate supply

Aggregate demand

Annual demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The following are components of aggregate demand except

Investments

Exports

Wages

Consumption

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which curve in the AD-AS model is represented by a vertical straight line?

Aggregate demand

Short run aggregate supply

Long run aggregate supply

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In the AD-AS model, the horizontal axis measures real GDP.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If interest rates (cost of borrowing) increases, investments will increase.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Changes in the productivity of workers will shift the long run aggregate supply curve.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

An increase in imports will increase aggregate demand.

True

False

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in investment will increase both aggregate demand (AD) and long run aggregate supply (LRAS).

True

False

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in corporate tax rates will decrease investments.

True

False