Economics Study Set 4
Quiz 24: Aggregate Demand and Aggregate Supply Analysis
The level of aggregate supply in the long-run is not affected by A) changes in technology. B) changes in the capital stock. C) changes in the price level. D) changes in the number of workers.
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Using an aggregate demand graph,illustrate the impact of an increase in the interest rate.
Potential GDP refers to the level of A) real GDP in the long run. B) nominal GDP in the long run. C) real GDP in the short run. D) nominal GDP in the short run.
The long-run aggregate supply curve A) has a negative slope. B) has a steep but positive slope. C) is horizontal. D) is vertical.
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