Aggregate supply is the total amount
Produced by the government
Of goods and services produced in an economy
Of labour supplied by all households
Of products produced by a given industry
A situation of rising prices and falling output is known as
Stagflation
Hyper inflation
Deflation
Disinflation
Keynes assumed the situation of
Full employment
Under employment
Involuntary unemployment
Marginal unemployment
Stagflation is a situation of:
Stable prices and falling output
Stable prices and rising output
Rising pricing and falling output
According to the Keynesian, a decrease in government spending other things equal shifts the aggregate ____ curve to the
Demand : light
Demand : left
Supply : left
Supply : right
According to the monetarists an increase in the money supply, other things equal, shift the aggregate ____ curve to the _____.
Demand : right
Stagflation is the result of
Positive supply shock
Negative supply shock
Positive demand shock
Negative demand shock
The aggregate demand curve
The total quantity of an economy's intermediate goods demanded at all price levels
The total quantity of an economy's intermediate goods demand at a particular Price level
The total quantity of an economy's final goods and services demanded at a particular level.
The total quantity of an economy's final goods and services demanded at different price levels.
According to monetarists a decline in the money supply, holding other factors constant, shifts the aggregate ____ curve to the ______.
Keynesian believe that
The aggregate demand curve is downward sloping
A change on the quantity of money causes the aggregate demand curve to shift
Changes in government spending and taxes cause the aggregate demand curve to shift
All of the above
