
Aggregate Demand and Supply Dynamics in Economic Equilibrium
Interactive Video
•
Economics, Social Studies, Business
•
9th - 12th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the equilibrium of Aggregate Demand and Supply represent?
The equilibrium for a single market
The equilibrium for all markets combined
The equilibrium for international trade
The equilibrium for government spending
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to price levels and output when Aggregate Demand increases?
Price levels decrease, output increases
Price levels decrease, output decreases
Price levels increase, output decreases
Price levels increase, output increases
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a demand shock?
A sudden increase in Aggregate Supply
A sudden increase in consumer savings
A sudden shift in Aggregate Demand
A sudden decrease in government spending
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What economic condition is characterized by high inflation and stagnant growth?
Deflation
Stagflation
Boom
Recession
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a Recessionary Gap indicate in the short run?
Actual GDP is greater than potential GDP
Actual GDP is less than potential GDP
Actual GDP equals potential GDP
Actual GDP is unrelated to potential GDP
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the economy self-correct during a recession?
Wages and resource prices decrease
Wages and resource prices increase
Government increases spending
Government decreases taxes
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might government intervention be necessary during a recession?
Because wages adjust quickly
Because wages are sticky and adjust slowly
Because the economy never self-corrects
Because resource prices are flexible
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