Aggregate Demand and Supply

Multiple Choice Questions

After watching the Aggregate Demand and Supply video lecture, consider the question(s) below. Then “submit” your response.

Question

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Question

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

True/False Questions

After watching the Aggregate Demand and Supply video lecture, consider the question(s) below. Then “submit” your response.

Question

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Question

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

Question

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

Short Answer/Discussion Questions

After watching the Aggregate Demand and Supply video lecture, consider the question(s) below. Then “submit” your response.

Question

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Suggested solution: The only way for an economy to shift its long-run aggregate supply curve to the right (increasing output capability) is to increase the economy’s capacity to produce. This can be accomplished by deploying greater technology (making current workers more productive), increasing capital investment (providing more tools to produce goods and services), or improving the quality of labor (improving the productivity of current workers). Increasing the size of the work force through increased labor participation or immigration also will help the economy increase its full employment output level.

Question

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Suggested solution: Several factors can work to shift the short-run aggregate supply curve to the left. These include higher input prices, reduced labor productivity, increased taxes, and government regulations. Each of these increase per unit production costs and, at every price level, reduce firms’ incentive to produce. As a result, the short-run aggregate supply curve moves left.

Question

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Suggested solution: A recession is depicted on an aggregate supply or demand diagram by an intersection of short-run aggregate supply and aggregate demand that occurs significantly to the left of the long-run, or full-employment, aggregate supply curve. High unemployment usually accompanies a recession as the economy is not producing near its maximum level of output, so employees and other productive resources are idle or underutilized. In these situations, governments pursue policies designed to stimulate the economy and push it back to long-run macroeconomic equilibrium.