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Ec300-StudyGuide - AD-AS analysis 10 Which kind of problem...

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AD-AS analysis 10)  Which kind of problem with the price system can lead to a break down in the coordination of  economic activity? A) The price system works silently in the background. B) Prices can be slow to adjust. C) Prices may be flexible. D) all of the above Ans: B 17) Workers often have _____ contracts and so their wages tend to be ______. 23) The short run in macroeconomics is the period in which: 12) The real value of the money supply _______ as the price level falls. 21) Which one of the following would shift the aggregate demand curve to the left? A) an increase in the money supply B) an increase in government spending C) an increase in exports D) an increase in taxes Ans: D 30) Assuming an unchanging price level, how would an increase in the AD affect ‘real’ GDP? 37) When households receive additional income and spend some of it, this is called the:
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2) The relationship between the price level and total output producers are willing to supply is the: 8) Given a long - run AS curve, a drop in consumer confidence results in ____ in output and _____  in prices. A) a decrease; no change B) no change; a decrease C) a decrease; a decrease D) an increase; no change Ans: B 11) Which of the following factors influence the position of the long - run aggregate supply curve?
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